Adam Smith

Biography

Adam Smith (1723–1790) was a Scottish economist, philosopher, and author widely regarded as the father of modern economics. Born in Kirkcaldy, Scotland, he studied at the University of Glasgow and Balliol College, Oxford. Smith held the chair of moral philosophy at Glasgow, where he developed his theories on human sympathy and ethical judgment. His first major work, The Theory of Moral Sentiments (1759), explored the psychological foundations of morality. His magnum opus, An Inquiry into the Nature and Causes of the Wealth of Nations (1776), laid the groundwork for classical economics and free-market theory. Smith’s concepts of the invisible hand, division of labor, and self-interest as an engine of prosperity became cornerstones of economic thought. He served as Commissioner of Customs in Scotland from 1778 until his death.