Short biography of Adam Smith: achievements of the economist and interesting facts

A short biography of Adam Smith allows you to better know what the famous Scottish economist who founded modern economic theory was in life. He is also known as an ethics philosopher.

Biography of economist

A short biography of Adam Smith begins in 1723. He was born in the town of Kirkcaldy in the Kingdom of Scotland. It is necessary to recognize that the full capital biography of the economist does not exist until now. All the same, the eighteenth century was a time when it was not accepted to document each step of a person. Therefore, we do not know all the details of Smith's life thoroughly, not even his exact date of birth. But it is precisely known that his father was an educated person - a lawyer and a customs official. True, just two months after the birth of Adam, he died.

His mother was the daughter of a large landowner, who also took care that the boy received a comprehensive education. A short biography of Adam Smith claims that he was the only child in the family, as there is no record of his brothers and sisters. A sharp turn in his fate happened at the age of 4, when he was abducted by gypsies. True, it was not possible to take the boy far away. His relatives saved him. Instead of living in the camp, he studied at a good school in Kirkcaldy, from early childhood he was surrounded by a large number of books.

Education Smith

At the age of 14, he entered the University of Glasgow Adam Smith. A brief biography of the future economist after this began to develop successfully. After all, he was in the so-called center of Scottish enlightenment. For two years, he studied the foundations of philosophy with the well-known proponent of deism, Francis Hutcheson. Smith's education was very versatile. The university course included logic, moral philosophy, ancient languages, in particular, Ancient Greek, as well as astronomy and mathematics.

In this brief biography of Adam Smith noted that classmates considered him at least strange. For example, he could easily think deeply, being in a noisy and cheerful company, while not reacting at all to others.

In 1740, Adam Smith continued his education in Oxford. A brief biography of the economist reveals that he received a scholarship there, having studied for a total of 6 years. At the same time, the scholar himself was very critical of the education received there, noting that most professors at this school had long since given up the semblance of teaching. At the same time he was regularly ill and showed no interest in the economy.

Scientific activity

The scientific and teaching activity was initiated in 1748 by Adam Smith (a brief biography of the scientist claims this way). He started lecturing at the University of Edinburgh. At first they were in no way connected with the economy, but were devoted to English literature, and later to jurisprudence, so beloved by his father's economy and sociology.

It was at this university that Adam Smith's interest in economics first appeared. The Scottish economist and philosopher began to express the ideas of economic liberalism in the early 1750s.

Smith's achievements

It is known that in 1750 Adam Smit (Adam Smith), in a brief biography of which this is necessarily mentioned, met with the Scottish philosopher David Hume. Their views were similar, which was reflected in their many joint works. They were devoted not only to the economy, but also to religion, politics, philosophy, history. Two of these scientists played, perhaps, a key role in the Scottish enlightenment.

In 1751, Smith received the post of professor of logic at the University of Glasgow, which he himself once graduated from. His next achievement was the place of the dean, which he inherited in 1758.

Scientific works

In 1759 Smith published his popular book The Theory of Moral Senses. It was based on his lectures at the University of Glasgow. In this work, he analyzed in detail ethical standards of conduct, in fact speaking against church morality, which for that time was a very revolutionary statement. As an alternative to the fear of falling into hell, Smith offered to evaluate his actions in terms of morality, while speaking in favor of the ethical equality of all people.

Personal life of a scientist

About the private life of Adam Smith is very little known. The information is incomplete and fragmentary. So, it is believed that twice, in Glasgow and Edinburgh, he almost got married, but for some reason this did not happen.

As a result, the scientist spent his whole life with his mother, who died only six years before her son, as well as a cousin who remained an old maid. Contemporaries of the scientist argue that in his house was always served traditional Scottish food, local customs were valued.

Economic theory

But still the most important work of the scientist is the treatise "Study on the nature and causes of the wealth of nations." It was published in 1776. The treatise consists of five books. In the first, the economist examines the reasons for increasing the productivity of labor, and as a result, distribute the product among the classes of the people in a natural way.

The second book describes the nature of capital, its application and accumulation. Then follows the part about how well-being developed in different peoples, then the systems of political economy are considered. And in the final book, the author writes about the incomes that the state and the monarch receive.

A new approach to economics was proposed by Adam Smith. A brief biography, quotations and aphorisms are well known to all his admirers. The most famous saying is that an entrepreneur invisible hand of the market is sent to a goal that originally might not have been his intention. Smith in his book offers his own view of the role in the economic system of the state. Later it became known as classical economic theory.

In accordance with it, the state is obliged to assume the issues of ensuring the safety of human life, as well as the inviolability of its private property. It should also help resolve disputes between citizens on the basis of law and justice. Summarizing, we can say that the state should take on those functions that an individual person can not fulfill or will do it inefficiently.

Smith became the first scientist to describe the principles of a market economy. He furiously argued that every entrepreneur is striving to achieve his private and personal interests. However, in the long run, this benefits the entire society, even if a particular businessman has not thought about it or did not want to. The main condition for achieving this result Smith called economic freedoms, which should become the basis for the activities of economic entities. Also, there should be freedom in competition, decision-making and choice of the field of activity.

Smith died in Edinburgh in 1790. He was 67 years old. He suffered from intestinal disease.