Adam smith biography economic theory adam

Adam smith birth and death

Adam Smith () was a Scottish philosopher, economist, and leading Enlightenment figure.


adam smith biography economic theory adam

Adam smith definition of economics

Adam Smith is a very well-known Scottish philosopher and economist.

Adam smith contribution to economics

Today Smith's reputation rests on his explanation of how rational self-interest in a free-market economy leads to economic well-being.


Adam smith, education
It dispensed with the labour theory of value of which Smith was most famously identified with in classical economics, in favour of a marginal utility theory of value on the demand side and a more general theory of costs on the supply side.