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Adam Smith 2
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The British philosopher and economist Adam Smith was born in kirkcaldy, Scotland. He was educated at the universities of Glasgow and Oxford.
In 1751 he became a professor at Glasgow. There he wrote The Theory of Moral Sentiment in 1759. This philosophical work gained Smith an appointment in 1764 as tutor of the young duke of Buccleuch. The tut ....
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....yers and sellers meet in the market, a pattern of production develops that results in social harmony. Smith said that all this would happen without any conscious control or direction, “as if by an invisible hand.”
Smith also believed that labor, not land or money, was both the source and the final measure of value. He said that wages .... |
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