Born in Kirkcaldy, Fife, he studied social philosophy at the University of Glasgow and at the University of Oxford, where he was one of the only students to benefit from scholarships set up by John Snell. Following his graduation, he delivered a successful series of public lectures at the University of Edinburgh, that met with acclaim. This led to a collaboration with David Hume during the Scottish Enlightenment. Smith obtained a professorship at Glasgow, where he taught moral philosophy. During this period, he wrote and published The Theory of Moral Sentiments. Subsequently, he assumed a tutoring position that facilitated travel throughout Europe, where he encountered intellectual figures of his era.
Life and Career
In response to the prevailing policy of safeguarding national markets and merchants through the reduction of imports and the augmentation of exports, a practice that came to be known as mercantilism, Smith laid the foundational principles of classical free-market economic theory. The Wealth of Nations was a precursor to the modern academic discipline of economics. In this and other works, he developed the concept of division of labour and expounded upon how rational self-interest and competition can lead to economic prosperity. Smith was controversial in his day and his general approach and writing style were often satirised by writers such as Horace Walpole.
Key Facts
- Born: June 16, 1723 in Kirkcaldy, Fife, Scotland
- Died: 1790
- Field: Philosophy
Legacy and Impact
The influence of Adam Smith extends far beyond his own lifetime. He fundamentally shaped human thought and intellectual discourse, and his ideas and philosophical frameworks remain foundational to this day.
Though he passed away in 1790, his ideas continue to be studied, debated, and built upon by scholars and practitioners worldwide.
Adam Smith remains one of the most celebrated minds to emerge from Scotland, a testament to the rich intellectual heritage of the region.
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