Adam Smith

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Dictionary Says

Definition of 'Adam Smith'

An 18th-century philosopher and free-market economist famous for his ideas about the efficiency of the division of labor and the societal benefits of individuals' pursuit of their own self-interest. In his first book, The Theory of Moral Sentiments, Smith proposed the idea of the invisible hand, or the tendency of free markets to regulate themselves by means of competition, supply and demand, and self-interest. Smith is also known for his theory of compensating wage differentials, meaning that dangerous or undesirable jobs will tend to pay higher wages to attract workers to these positions. Smith died in 1790.
Investopedia Says

Investopedia explains 'Adam Smith'

Smith is famously quoted as saying in his 1776 magnum opus, An Inquiry into the Nature and Causes of the Wealth of Nations, "It is not from the benevolence of the butcher, the brewer, or the baker that we expect our dinner, but from their regard to their own self-interest." Smith's ideas form the foundation of laissez-faire economics.
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'Adam Smith'

  • Adam Smith: The Father Of Economics

    http://www.investopedia.com/articles/economics/08/adam-smith-economics.asp
    Adam Smith: The Father Of Economics. October 09 2008 | Filed Under » Economics.
    Adam Smith is often touted as the world's first free-market capitalist. ...

  • Adam Smith And "The Wealth Of Nations"

    http://www.investopedia.com/articles/economics/09/adam-smith-wealth-of-nations.asp
    Adam Smith's 1776 classic may have had the largest global impact on economic
    thought. ... Adam Smith And "The Wealth Of Nations". April ...

  • On This Day In Finance: June 5 - The Birthday Of Adam Smith ...

    http://financialedge.investopedia.com/financial-edge/0609/Today-In-Finance-June-5th---The-Birthday-Of-Adam-Smith.aspx
    ... On This Day In Finance: June 5 - The Birthday Of Adam Smith. Posted ... economics.
    (Read Adam Smith And “The Wealth Of Nations” to learn more.). ...

  • Who coined the term "entrepreneur"?

    http://www.investopedia.com/ask/answers/08/origin-of-entrepreneur.asp
    For one, it wasn't Adam Smith. ... Print Print. Order Reprints Reprints. Feedback Feedback.
    Who coined the term "entrepreneur"? For one, it wasn't Adam Smith. ...

  • How Influential Economists Changed Our History

    http://www.investopedia.com/articles/07/economists.asp
    ... 1. Adam Smith (1723 to 1790) Adam Smith was a Scottish philosopher who became a
    political economist in the midst of the Scottish Enlightenment. ...

  • The History Of Economic Thought

    http://www.investopedia.com/articles/economics/08/economic-thought.asp
    ... Economics Adam Smith is widely credited for creating the field of economics, however,
    he was inspired by French writers, who shared his hatred of mercantilism. ...

  • Microeconomics: A Brief History | Investopedia

    http://www.investopedia.com/university/microeconomics/microeconomics1.asp
    ... For some 200 years beginning in the mid-1700s, the dominant economic theory was
    Adam's Smith's laissez-faire (French for "leave alone" or "let do") approach to ...

  • Save Money The Scottish Way

    http://www.investopedia.com/articles/pf/07/scottish_frugality.asp
    ... first commercial savings bank. Adam Smith, one of the most famous figures
    in economics also hailed from Scotland. (For more on Adam ...

  • This Week in Financial History: Speculative Bubbles, Bill Gates ...

    http://financialedge.investopedia.com/financial-edge/0310/This-Week-in-Financal-History-Speculative-Bubbles-Bill-Gates-Coca-Cola-and-Capitalism.aspx
    ... In Pictures: The World's Greatest Investors. The Invisible Hand Enfolds the World
    On March 9, 1776, Adam Smith's "The Wealth of Nations" was published. ...

  • The History Of Capitalism: From Feudalism To Wall Street

    http://www.investopedia.com/articles/economics/08/capitalism-history.asp
    ... It was Adam Smith who noticed that mercantilism was not a force of development and
    change, but a regressive system that was keeping the world from advancing. ...

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