Adam Smith (1723–1790) — Scottish moral philosopher and economist

Major works

Smith wrote two books that are usually treated as complementary. The first, The Theory of Moral Sentiments, examines human sympathy, moral judgment and the social feelings that guide behavior. The second, An Inquiry into the Nature and Causes of the Wealth of Nations, commonly shortened to The Wealth of Nations, presents an extended study of production, trade, markets and public policy. Both works remain central to studies of ethics and political economy.

Key ideas

• Division of labour: Smith showed how breaking production into specialized tasks raises productivity, illustrated by his famous pin‑factory example.
• Self‑interest and markets: He argued that individuals pursuing their own interests can produce beneficial social outcomes when markets work competitively.
• Invisible hand: Smith used this metaphor to describe how decentralized choices may lead to unintended public benefits; scholars debate its exact meaning and limits.
• Moral foundations: Smith did not present economics as value‑free — he emphasized sympathy, justice and moral rules as the background for social life.

Life and career

Smith studied and later taught at the University of Glasgow, where he lectured on logic and moral philosophy. He travelled on the Continent and formed intellectual friendships that influenced his thinking. In later years he served in public office in Scotland and continued to revise and promote his ideas until his death. His work blended empirical observation, philosophical argument and policy critique.

Influence and distinguishing facts

Smith's analyses provided the intellectual basis for classical economics and heavily influenced debates about trade, taxation and government responsibility. He criticized mercantilist policies of his era and argued for institutions that allow markets to allocate resources efficiently while still recognizing the need for laws and public goods. Although popularly called the "father of economics," Smith's writings are inseparable from his moral theory: his economic prescriptions assume a social and ethical context rather than offering a purely technical blueprint.

For readers seeking introductions to his thought, the two principal books remain the best starting points; secondary literature explores how his moral and economic arguments interact and how later interpreters have extended or revised his insights.