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Adam Smith - Biography

Smith is a name that will forever remain associated with the development of economic science and philosophy. His theories and ideas in economics and political economy had a huge impact on the world and formed the basis for modern economic thought. In this biography, we will tell you about the life and achievements of a Smith, his contribution to economic science and philosophy.

Adam was born on 5 June 1723 in Kirkcaldy, Scotland. His family was educated and thanks to parental care he received an excellent education. In 1740 he entered the University of Glasgow, where he studied philosophy and theology. However, the economy became his real interest.

After completing the university, Adam continued his education at the University of Oxford, where he deepened his knowledge of economics and began to develop his own theories.

Adam Smith's career began with teaching economics and moral philosophy. He was a professor at the University of Glasgow and later at the University of Edinburgh. His lectures and research attracted the attention of the academic community and made him one of the leading economists of his time.

However, Adam Smith gained real fame and recognition after the publication of his main work - the book An Inquiry into the Nature and Causes of the Wealth of Nations in 1776. In this book, he presented his main economic ideas, including the concept of the free market, the division of labor, and the role of the state in the economy. These ideas became the basis for classical economic thought and had a profound influence on the development of economics as a science.

Adam also worked in practice, advised the government and did research in monetary theory and finance. His work has made important contributions to understanding economic phenomena and processes.