adam smith
The basic doctrine of An Inquiry into the Nature and Causes of the Wealth of Nations, was that labor is the only source of a nation's wealth. It advocated division of labor in the productive process, emphasized the importance of individual enterprise and argued the benefits of free trade. The true wealth of a nation lay not in gold but in the achievement of an abundance of the necessities of life. It warned against unnecessary intervention by the state in this process. This book has come to be known as one of the most important and influential books ever written on the subject of economics. When published in 1776 it was an immediate hit. It assured it's author's finical success. The author of this masterpiece was Adam Smith. Adam Smith was a Scottish social philosopher and economist. He was the son of Adam Smith, comptroller of customs at Kirkcaldy, a small fishing village near Edinburgh, and Margaret Douglas, the daughter of a wealthy landowner. Not much is known about Smith's Childhood except that he attended school in Kircaldy. It also rumored that he was abducted by gypsies when he was four years old. After a short pursuit by the authorities his gypsy captures released him. At the age of 14, Adam went to study at the Univers
In 1752 he transferred into a professorship of moral philosophy. In 1773 Smith again moved, this time to London where he completed and published The Wealth of Nations in 1776. It was at this time that Smith began his work on The Wealth of Nations, to try and relieve himself from the boredom he felt there. His works, after all, did lay the basic foundation for the economies shared by many countries in the world today. ------------------------------------------------------------------------**Bibliography**World History: Patterns in Civilization. It was Smith's first work to be published. Adam Smith and the Virtues of Enlightenment . This thesis reveals Smith's views on humans being driven by passions and at the same time able to be self-regulated by the ability to reason and by sympathy. Smith would later describe this period of time "by far the happiest, and most honorable period of my life. He traveled to Oxford, where he stayed at Balliol College for six years. "(Smith)Scholars have long debated whether this book clashes or supported The Wealth of Nations.
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