Adam Smith - The Wealth Of Nations
In 1776 Adam Smith’s masterpiece The Wealth Of Nations was published, and in 1778 he was appointed to the commissioner of customs. The Wealth of Nations serves as the foundational critique and formation of the economics of the western world. In a job that enforced laws against smuggling, he didn’t quite fit in, considering that his book spoke of smuggling as legitimate activity in spite of legislation that was unnatural.
Smith never married, and died in 1790 in Edinburgh, Scotland. Although he didn’t leave behind a family, a wife, or children, Adam Smith certainly left a mark on the world with his reputation as a renowned economist and logistics man. He explained the rational self-interest in a free-market and how it leads to economic well-being, which is what keeps his reputation alive today.
Many think Smith was just an individualist, but his first work concentrated largely on ethics and charity. No matter what Adam Smith is presumed to be, he certainly has made his impact on a global economy that looks to his 2 centuries old writings for information about economics and how to survive difficult times. In today’s troubled financial times this makes him a highly regarded figure in the history of economics and finance.
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