The Wealth of Nations
Mar 2019 · Otbebookpublishing
Ebook
722
Pages
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Eligible
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About this ebook
Smith's enormous authority resides, in the end, in the same property that we discover in Marx: not in any ideology, but in an effort to see to the bottom of things.
About the author
Adam Smith (1723-1790) was a pioneering Scottish economist and philosopher whose ideas laid the groundwork for modern economic theory. Born in Kirkcaldy, Fife, Smith was a prodigious student, attending the University of Glasgow at the age of 14 and later Balliol College, Oxford. His early academic pursuits were deeply rooted in moral philosophy, a field in which he would make significant contributions throughout his life.Smith's most revolutionary ideas centered around the concepts of free markets and the invisible hand, which posited that individuals pursuing their self-interest inadvertently contribute to the overall economic well-being of society. These ideas were groundbreaking at a time when mercantilism dominated economic thought, and they sparked considerable debate and controversy.Smith's influence extended beyond economics; his work also impacted contemporary writers and thinkers, including David Hume, with whom he maintained a lifelong friendship, and later, figures like Karl Marx and John Maynard Keynes. His ability to intertwine economics with moral and ethical considerations made his work resonate across disciplines.Intriguingly, Smith was known for his eccentricities, such as his absent-mindedness and peculiar habits, which included talking to himself and wandering the countryside lost in thought. Despite his profound impact on economic theory, Smith remained a modest and private individual, often shunning public recognition.Adam Smith's legacy endures, not only in the field of economics but also in the broader discourse on human behavior and societal organization. His revolutionary ideas continue to inspire and challenge modern thinkers, making him a timeless figure in intellectual history.
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