- Name: Adam Smith
- Born: 06/15/2020
- Died: 07/17/1790 (229 years old)
Adam Smith (c. 16 June [O.S. c. 5 June] 1723 – 17 July 1790) was a Scottish economist, philosopher, and author as well as a moral philosopher, a pioneer of political economy, and a key figure during the Scottish Enlightenment, also known as ”The Father of Economics” or ”The Father of Capitalism”. Smith wrote two classic works, The Theory of Moral Sentiments (1759) and An Inquiry into the Nature and Causes of the Wealth of Nations (1776). The latter, often abbreviated as The Wealth of Nations, is considered his magnum opus and the first modern work of economics. In his work, Adam Smith introduced his theory of absolute advantage.
Adam Smith quotes :
The real and effectual discipline which is exercised over a workman is that of his customers. It is the fear of losing their employment which restrains his frauds and corrects his negligence.Adam Smith
It is not from the benevolence of the butcher, the brewer, or the baker that we expect our dinner, but from their regard to their own interest.Adam Smith