Adam Smith: The Father of Economics Smith's Primary Thesis The core of Smith's thesis was that humans' natural tendency toward self-interest (or in modern terms, looking out for yourself) results.
Adam Smith is universally regarded as the founding father of modern economics, laying the groundwork of global capitalism growing from the roots of feudal states, and subsequently, Mercantilism. The principle political concepts and ideals used by the majority of the contemporary world have been grounded in Smith's innovative views of England's eighteenth century political and economic landscape.
Modern readers meet Adam Smith, if at all, as a caricature: on neckties, in op-ed articles, as a critic of government, a prophet of markets and laissez-faire. This think-tank version grossly distorts his significance. Like his friend Benjamin Franklin, Smith was astoundingly wide and deep: founder of a modern social science, moral philosopher, a man of affairs, and a superb writer as well.
Adam Smith was the founder of economics, as we know it today. His thoughts have shaped modern ideas about the market economy and the role of the state in relation to it. Smith laid the intellectual framework that explained the free market, which still holds true today, and laissez-faire a government belief that the commerce and trade should be permitted to operate free of controls.
The second set of notes, relating to Smith’s course on jurisprudence as delivered in the same session, was not published until 1978, as part of the Glasgow Edition of the Works of Adam Smith. In our age of over-specialization, no one can help but be impressed by the range and depth of Smith’s scholarship, a truly great embodiment of the spirit of the Scottish enlightenment.
Adam Smith and The Wealth of Nations Capitalism is considered a pivotal part of today’s society but in 1776 when Adam Smith wrote his keystone article, The Wealth of Nations, capitalism did not exist. It is actually through The Wealth of Nations that Smith introduced the idea of capitalism.
Looking for books by Adam Smith? See all books authored by Adam Smith, including An Inquiry into the Nature and Causes of the Wealth of Nations, and The Wealth of Nations Volume 1, and more on ThriftBooks.com.
Adam Smith and Immanuel Kant: On Markets, Duties, and Moral Sentiments. Forum for Social Economics, Forthcoming.. which is also neglected by those with think of Smith only as the father of economics and a proponent of laissez-faire principles.. Adam Smith, Immanuel Kant, ethics, market, society, Adam Smith problem, duty.