Adam Smith, a Scottish social philosopher, and political economist wrote ‘The Wealth of Nations,’ which established the first comprehensive system of political economy.
Adam Smith was an economist and philosopher who wrote The Wealth of Nations, widely regarded as the “bible of capitalism,” in which he detailed the first system of political economy.
While Smith’s exact birth date is unknown, his baptism was recorded on June 5, 1723, in Kirkcaldy, Scotland. He went to the Burgh School and majored in Latin, mathematics, history, and writing. Smith enrolled at the University of Glasgow at the age of 14 and transferred to Oxford in 1740.
10 Quotes Of Adam Smith
“It is not from the benevolence of the butcher, the brewer, or the baker that we expect our dinner, but from their regard to their own interest. ” –Adam Smith
“As soon as the land of any country has all become private property, the landlords, like all other men, love to reap where they never sowed, and demand a rent even for its natural produce.”- Adam Smith
“Science is the great antidote to the poison of enthusiasm and superstition. Adam Smith Virtue is more to be feared than vice, because its excesses are not subject to the regulation of conscience. ” – Adam Smith
“Defense is superior to opulence. Adam Smith Humanity is the virtue of a woman, generosity that of a man. “- Adam Smith
“The propensity to truck, barter and exchange one thing for another is common to all men, and to be found in no other race of animals. “- Adam Smith
“Labor was the first price, the original purchase – money that was paid for all things.”- Adam Smith
“With the greater part of rich people, the chief enjoyment of riches consists in the parade of riches. “- Adam Smith
“Adventure upon all the tickets in the lottery, and you lose for certain; and the greater the number of your tickets the nearer your approach to this certainty. “- Adam Smith
“Resentment seems to have been given us by nature for a defense, and for a defense only! It is the safeguard of justice and the security of innocence. “- Adam Smith
“On the road from the City of Skepticism, I had to pass through the Valley of Ambiguity.” – Adam Smith