Adam Smith "Father of Economics" Essay

5647 Words Nov 19th, 2010 23 Pages
Final Paper | Dr. Kang: History of Economic Thought | | | | Brian Witt | | |

Brian Witt
Dr. Kang MBE 330.01
Final Paper

Adam Smith: “The Father of Economics”

Adam Smith was a Scottish moral philosopher and a pioneer of political economics. One of the key figures of the Scottish Enlightenment and modern economics, Smith is an author of The Theory of Moral Sentiments and An Inquiry into the Nature and Causes of the Wealth of Nation, now known to be called The Wealth of Nations. Smith is commonly cited as the father of modern economics.
Smith studied moral philosophy at the University of Glasgow and Oxford University. After graduating, he delivered a successful series of public lectures at Edinburgh, leading
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After the publication of The Theory of Moral Sentiments, Smith began to give more attention to jurisprudence and economics in his lectures and less to his theories of morals (Buchan, 2006). In 1762, the University of Glasgow conferred on Smith the title of Doctor of Laws (L.L.D.). At the end of 1763, he obtained an offer from Charles Townshend-who had been introduced to Smith by David Hume- to tutor his stepson, Henry Scott, the young Duke of Buccleuch. Smith then resigned from his professorship to take the tutoring position, and he subsequently attempted to return the fees he had collected from his students because he resigned in the middle of the term, but his students refused (Buchholz, 1999).
Smith’s tutoring job entailed touring Europe with Scott while teaching him subjects including proper Polish (Buchholz, 1999). Smith first traveled as a tutor to Toulouse, France, where he stayed for a year and a half. According to accounts, he found Toulouse to be very boring, and he wrote to Hume and he “had begun to write a book in order to pass away the time” (Buchholz, 1999). After touring the south of France, the group moved to Geneva, where Smith met with the philosopher Voltaire.
After staying in Geneva, the part went to Paris, where Smith came to know intellectual leaders such as Ben Franklin, Turgot, Jean D’

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