Adam Smith
What is adam smith?
Key facts
Adam Smith was a Scottish social philosopher and political economist, best known for The Wealth of Nations (1776), the first comprehensive system of political economy. He was a central figure in the Scottish Enlightenment and instrumental in the rise of classical liberalism.
Context
Adam Smith was a Scottish social philosopher and political economist, best known for The Wealth of Nations (1776), which is considered the first comprehensive system of political economy [2]. He was a central figure in the Scottish Enlightenment and instrumental in the rise of classical liberalism [2]. Often described as the father of modern economics [1], his exact birth date is unknown; his baptism date is used as a reference [2].
Documented claims
Questions and answers
What was Adam Smith best known for?
He is best known for The Wealth of Nations (1776), the first comprehensive system of political economy [2].
What was Adam Smith's main theory?
His main theory is the comprehensive system of political economy presented in The Wealth of Nations, which laid the foundation for classical economics [2].
Did Adam Smith believe in capitalism?
Smith is considered instrumental in the rise of classical liberalism, which is a foundation of capitalist thought [2].
Sources
- University of Glasgow - Explore and learn - Biography of Adam Smithwww.gla.ac.uk › explore › adamsmith300 › explorelearn › life › biography — gla.ac.uk (retrieved August 3, 2026)
- Adam Smith: His Life, Thought, and Legacy - Chapter 1 — assets.press.princeton.edu (retrieved August 3, 2026)