Economics is a science that most people practice everyday. Economics is the social science dealing with the use of scarce resources to obtain the maximum satisfaction of society's unlimited economic wants. Many of the ideologies of the modern world have been shaped by prominent economists of the past, like Adam Smith. Adam Smith is recognized as the Father of Economics. He was student, professor, tutor, commissioner of customs in Scotland, traveler, philosopher, and an economist. Adam Smith is remembered for his most influential book called An Inquiry into the Nature and Causes of The Wealth of Nations.
Kirkcaldy, Fife, Scotland was where Adam Smith was born. No one knows the exact date of Adam Smith birth, but he was baptized on June 5, 1723 and this is often used as the date of Adam Smith's birth. Adam Smith's father, who had died before Adam Smith's birth, was a comptroller of customs. As a result of Adam Smith never really knowing his father, he was very close to his mother. His mother died at age ninety. Adam Smith died on July 17, 1790 of an illness in Edinburgh, Scotland.
There was an accident that happened in Adam Smith's youthful days that needs to be mentioned. It is important because this accident may have changed the world of economics. When Adam Smith was about three years old, Adam Smith with his mother went to go visit his uncle in Strathenry. While there, Adam Smith was playing by the front door and was kidnapped by a group of drifters called Tinkers. Adam Smith's uncle soon realized he was missing and went out looking for him. His Uncle had heard that the Tinkers had passed by and went looking for them. Adam Smith's uncle soon found the drifters in Leslie Woods and rescued Adam Smith and essential saved the father of economics. If it were not for Adam Smith's uncle, the world may have never gotten a chance to know Adam Smith and his revolutionary views.