Adam Smith is widely known as “The father of Modern Economics”. His most popular work “An Inquiry into the Nature and Causes of the Wealth of Nations” became a bible for later economists. His works are still affecting the modern economists. He was very passionate about liberty, reason and freedom of speech.
Smith was born in the Fife County in a small town Kirkcaldy in Scotland. He lost his father only two months after his birth and had to face numerous difficulties in his childhood.
He graduated moral philosophy at University of Glasgow. He completed his Post Graduation from Oxford. He did not have a happy life at Oxford. He found gagged due to the rules there. He has cited this in his famous book “The Wealth of Nations” as well.
Smith was an enigma. Very little is known about his life except that he was very close to his mother. He talked to himself and was known to forget things. On religious front he was a moderate Christian. He is known to refer god even in his literary work, in a covert way as architect of universe.
His two famous works “The Theory of Moral Sentiments “and “The Wealth of Nations” are of opposing views. He worked on both the social and economic aspects of life in his two famous books. The free market which is the soul of economic theory of modern times was a term coined by him. He was the propounded the theory of economics with no boundaries known as World Economics today.