Adam Smith

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The world of Economics would not be the same with Adam Smith. Smith is considered to be the “Father of Economics.” Every person that has studied some form of Economics, whether it is Micro or Macro, knows why Smith is so important. However, few know the person behind the theory. Adam Smith was not just an Economic guru; prior to his discovery, he was man ordinary man. His life’s work was dedicated to Economics, but behind closed doors he was more than just the “Wealth of Nations.” In order to understand Adam Smith’s economic theory, one must understand the person that he was. Smith was born on June 5, 1723 in Fife, Scotland. His father died only a few months before his birth, leaving Smith’s mother to raise the boy herself. Because he grew up an only child with a single parent, he grew extremely attached to her. She was not his only friend, however, he was reported to talk to himself and have many imaginary friends. Psychologists today would most likely diagnose him as a paranoid schizophrenic. The only thing known of his father was that he was a Judge Advocate, clerk and legal advisor to the Courts Martial. His mother was well connected with the Scottish military; uncles and cousins and brothers were all part of their ranks. Reportedly, Smith was kidnapped by gypsies when he was four but returned to his mother shortly. Life was hard for little Adam Smith, but his mother did value education. Consequently, Smith attended one of the best secondary schools in his hometown. The school was called “The Burgh School of Kirkcaldy.” The actual date of his attendance is unknown but it is speculated that he was there from the year 1729 to 1737. Burgh school is where Smith learned the basics of his education, such as Mathematics, Sciences, and Languages. In 1737, approximately around the age of 15, Adam Smith went to Glasgow University where he majored in moral philosophy under Francis Hutcheson. This mentor became one of the most influential people in Adam Smith’s life....
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