★ Was born in Scotland in the year 1723.

★ Had a prodigious memory and vocation for study, faculties that

made it easier for him to enter the University of Glasgow.
★ In 1746, Smith set about finding suitable employment while
continuing his studies.
★ Between 1748 and 1751, he was assistant professor of the chairs of
rhetoric and literature in Edinburgh, under the patronage of Lord
Kames, who also employed him as a lecturer on the same subjects.
★ During this period he established a close friendship with the
philosopher David Hume , a friendship that greatly influenced
Smith's economic and ethical theories.
★ Was one of the most famous economists in history.
★ Is considered the father of the modern economy.
★ In his economic theories he combines history, philosophy, economic
development, psychology, and ethics.
★ Is one of the maximum exponents of the classical economy.
★ Smith and Hume wrote on politics, history, religion and economics
together.
★ Smith wrote his classical “Theory of Moral Sentiments” around
1751.
★ Was elected as a member of Philosophical Society of Edinburgh in
1752.
★ Was elected as a member of the Literary club of London in 1775.
★ He published “Wealth of Nations” in 1776.
★ The criticisms of Adam Smith have come mainly for his idea that the market
economy is the tool to achieve social welfare, while each one seeks his own
interest.
★ He did not support an anarchic system, without norms or laws, but rather a
market economy where free trade was allowed.
★ There have also been criticisms of Adam Smith for considering the human
being as a cold and selfish individual, without any ethics and only concerned
with his material interests.
 Ideas on government
★ He believed that government had an important role to play. Like
most modern believers in free markets, Smith believed that the
government should enforce contracts and grant patents and
copyrights to encourage inventions and new ideas.
★ The appropriate role of government is to provide a stable social
framework within which the uniform constant, and uninterrupted
effort of every man to better his condition can be realized.
★ He states that commerce and manufactures gradually introduced
order and good government.
 Ideas on human nature

Smith postulates that the main tendency of all living beings is none
other than self-love and the conscious search for their own well-being.
Regarding the human being and his societies, the author defended the
idea that the persecution, each one, of his own happiness did not have
as a consequence only the improvement of his living conditions, but
also an improvement to social level. That is, the individual won and the
whole won
 FIVE CURIOSITIES
1. The first is on his date of birth, which is a mystery. It is only known
that, on June 5, 1723, he was baptized in Kirkcaldy, Scotland.
2. He was orphaned by his father at 3 years old
3. When he was four years old, Smith would have been kidnapped by
gypsies who, shortly after, released him in a forest. The version,
however, is under the scrutiny of researchers
4. At the age of fourteen he began to study at the University of
Glasgow.
5. Although he had the possibility to travel, Adam Smith continued to