Learn about the ideas of Adam Smith in just 50 minutes with this practical and concise book. Smith is widely considered to be the leading thinker of classical economics and is therefore regarded as the father of modern economics. His work has had a lasting impact on many economists who came after him and covers a wide range of topics, including pricing, the role of the state and the division of labor.
This book will provide you with a handy introduction to Smith’s most important contributions to economics, including the bases he laid of economic science and his concept of absolute advantage. You will also find out about the reactions, both positive and negative, to his work, and the influence his ideas have had on developed countries through Fordism and Taylorism.
About Adam Smith
Adam Smith is one of the most famous economists of all time. However, he was also a philosopher and met with a range of the greatest figures of the 18th century, including the French Enlightenment writer Voltaire. His work has had a significant influence on modern economists, particularly in light of contemporary socioeconomic issues, such as the globalization of markets. Smith was a liberal who opposed protectionism and believed that the state should have very little influence over society, with the exception of education and infrastructure.
In this book, you will learn about Smith’s main ideas, their impact on modern economics and their potential limitations. A clear explanation of the most important concepts in his work, an introduction to related models and a detailed reading list will give you the tools you need to understand the work of this groundbreaking economist.
This straightforward and accessible 32-page book is structured as follows:
- Biography of Adam Smith
- Childhood (1723-1737)
- Studying at Glasgow (1737-1740) and Oxford (1740-1746)
- Returning to Kirkcaldy and intellectual rise (1746-1764)
- The journey to France (1764-1766)
- Writing The Wealth of Nations (1766-1776) and a career in customs (1778-1790)
- Smith’s work and contributions to economics
- The Theory of Moral Sentiments (1759)
- An Inquiry into the Nature and Causes of the Wealth of Nations (1776)
- Impact of Smith’s work
- Limitations and criticisms
- Related models and extensions
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