Adam Smith (1723-1790) was a Scottish philosopher, economist, and leading Enlightenment figure. In The Wealth of Nations, he advocates free trade and limited interference in markets by governments, for which he is seen as the founder of liberal economics. Regarded incorrectly as a champion of laissez-faire economics, Smith supported state intervention in important areas like the education of workers.
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Definition
Timeline
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1723 - 1790Life of the philosopher and economist Adam Smith.
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c. 5 Jun 1723Adam Smith is born in Kirkcaldy, Scotland.
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1740 - 1746Adam Smith studies at Balliol College, Oxford.
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1751Adam Smith is appointed the Professor of Logic at the University of Glasgow.
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1752 - 1764Adam Smith is Professor of Moral Philosophy at the University of Glasgow.
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1759Adam Smith's The Theory of Moral Sentiments is published.
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1766Adam Smith acts as advisor to the British Chancellor of the Exchequer.
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1776Adam Smith's The Wealth of Nations is published.
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9 Mar 1776Scottish philosopher Adam Smith publishes his pivotal work *The Wealth of Nations* which becomes a best-seller and establishes the modern free-market economic theory.
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1778Adam Smith is appointed customs commissioner in Edinburgh.
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17 Jul 1790Adam Smith dies in Edinburgh.
