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Adam Smith II
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Adam Smith (1723-1790) "The Wealth of Nations" in 1776 defined national wealth in terms of labour. Short Biography:
The cause of wealth is explained by the division of labour dividing a production process into several repetitive operations, each carried out by different workers.
Smith advocated the free working of individual enterprise, and the necessity of 'free trade'.
He was born in Kirkcaldy, and was professor of moral philosophy at Glasgow 1752-1763. He published Theory of Moral Sentiments in 1759.
Why is Adam Smith famous?
Adam Smith was a Scottish economist, often regarded as the founder of modem political economy.
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Category: Others - ( Others Archive)
Date Added: 19 June '12
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