Adam Smith

Nonfiction, Social & Cultural Studies, Political Science, Politics, History & Theory
Cover of the book Adam Smith by James R. Otteson, Bloomsbury Publishing
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Author: James R. Otteson ISBN: 9781623565930
Publisher: Bloomsbury Publishing Publication: August 1, 2013
Imprint: Continuum Language: English
Author: James R. Otteson
ISBN: 9781623565930
Publisher: Bloomsbury Publishing
Publication: August 1, 2013
Imprint: Continuum
Language: English

The Scottish philosopher Adam Smith (1723-1790) was as a pioneer of political economy. In fact, his economic thought became the foundation of classical economics and his key work, An Inquiry into the Nature and Causes of the Wealth of Nations, is considered to be the first modern work in economics. For Smith, a free competition environment was the best way to foster economic development that would work in accordance with natural laws. The framework he set up to explain the free market remains true to this day.

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The Scottish philosopher Adam Smith (1723-1790) was as a pioneer of political economy. In fact, his economic thought became the foundation of classical economics and his key work, An Inquiry into the Nature and Causes of the Wealth of Nations, is considered to be the first modern work in economics. For Smith, a free competition environment was the best way to foster economic development that would work in accordance with natural laws. The framework he set up to explain the free market remains true to this day.

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