Biography of Adam Smith

Adam Smith was born in Kirkcaldy, Scotland in 1723. During his late teenage years, he studied at the University of Glasgow and Oxford University. In 1751, he became a professor at Glasgow. While 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 tutoring took Smith to France, where he started writing The Wealth of Nations. When Smith returned to England …showed first 75 words of 456 total…

…showed last 75 words of 456 total…in social progress. He criticized the British government’s tariffs and other limits on individual freedom in trade. He preached that government need only preserve law and order, enforce justice, defend the nation, and provide for a few social needs that could not be met through the market. Smith’s argument for a “hands off” (laissez faire) government policy toward business and his analysis of economic forces laid down the basic ideas of economic liberalism.