Adam Smith and His Main Book Analysis

Topics: Economics, Capitalism, Adam Smith Pages: 27 (10144 words) Published: February 26, 2013
Historically, almost everywhere, the formation of economic science most often linked with the name and works of Adam Smith (1723 - 1790) - the greatest of the English scientist-economist of the end of the XVIII century. This «human frailty» will be overcome, obviously, soon, because unlike the natural sciences, which require, as a rule, the idea of the contemporary level of knowledge, economic science can hardly grasp it, not having become acquainted with the theoretical views of prominent economists of classical political economy. Among them Adam Smith is, undoubtedly, the Central figure. In the second half of the XVIII in the United Kingdom there were favorable conditions for the take-off of economic thought, what was the creation of the Scottish economist and philosopher A. Smith. The establishment of its economic system he set the main purpose of scientific work and searches. Smith was a bright, diverse and sophisticated person. Suffice it to say that he had received his education in the two most prestigious universities of the world. His interests were not limited only to the economy or philosophy; he had a broad knowledge of science in other areas: for example, received a Master of Arts degree and the doctor of the rights. In addition, A. Smith talked with the best people of his time, who contributed large extent to the formation of his views. Adam Smith is often described as the "founding father of economics". A great deal of what is now considered standard theory about the theory of markets was developed by Adam Smith. Two books, Theory of Moral Sentiments and An Inquiry into the Nature and Causes of the Wealth of Nations are of great importance. The name of the great Scotsman Adam Smith is revered all the modern scientists-economists, no matter how different points of view they are adhered to. The book «An Inquiry into the nature and causes of the wealth of Nations" (1776) cost him his nine years of complete seclusion and brought the glory of the father «economic science». In this work it is planned to consider the problem the social division of labor in the book And. Smith «Research on the nature and causes of the wealth of Nations». Two centuries after his death in 1790, Adam Smith is still justly regarded as the single most towering figure in the history of modern economics. His celebrated work on The Wealth of Nations captured the spirit of industrial capitalism, and presented its theoretical rationale in a form which dominated the thinking of the most influential political economists of the 19th century and which continues to inspire free market advocates to this day. Adam Smith more popularly known as the father of Economics wrote The Wealth of Nations, which is believed to have laid the foundation of economic thought and led to emergence of various schools of economic thought. Smith was a lecturer at the University of Glasgow where his concern was morality and ethics. Smith’s writings were considered revolutionary in those times. It would be fair to say that his views not only had an impact on the Europeans but also on those who mapped out the structure of the US government. According to John Farmer, “Adam Smith stimulates insights about the relationship between economic and political concerns. Adam Smith and his legacy provide the conceptual space within which governmental and societal organization and management are now viewed and understood.”[1] And I would like to tell briefly about Smith’s biography. He was born in Scotland and was the only child in a poor family of the customs official, who died a few months before the birth of his son. Adam was brought up by his mother. In 1740, he graduated from the University of Glasgow and was directed for improvement of education in the University of Oxford. In 1748 he began to give public lectures on literature and natural law in Edinburgh. In 1751 Adam occupies the chair of logic in Glasgow University; in 1752 he got acquainted with David Home....
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