Adam Smith was born in Kirkcaldy, Fife, Scotland in 1723. His father died before he was born and was raised by his mother. He attended Glasgow University for three years and later on went to Balliol College, Oxford for the next six years of his life. Afterwards, he decided to return to Kirkcadly in 1746. In 1751, Smith was appointed professor of logic at Glasgow University, transferring in 1752 to the chair of moral philosophy, lecturing on several topics including natural theology, ethics, and political economy. In 1759, he published Theory of Moral Sentiments, which was about the standards of ethical conduct that hold society together. Smith moved to London in 1776, and then published his famous book entitled An Inquiry into the Nature and Causes of the Wealth of Nations. Two years after this book was published, he won an appointment as commissioner of customs in Edinburgh, Scotland. Smith never married and for most of his life, he took care of his mother who lived to be ninety years old. He died in Scotland on July 17, 1790, and was buried in Canongate Churchyard. Smith died with these last words to his companions, "I love your company gentlemen, but I believe I must leave you to go to another world" (Jones 25). Smith left an enduring mark on economics, thought, and politics.
Adam Smith's Wealth of Nations examines the consequences of economic freedom. This book covers many different concepts such as the role of self-interest, the division of labour, the function of markets, and the implications of a laissez-faire economy. The essential message of the book was that man's self-interest would promote the economic well being of all. Smith explained his theory of self-interest in the Wealth of Nations by stating, "every man as long as he does not violate the laws of justice is left perfectly free to pursue his own interest his own way, and bring both his industry and his capital into competition with those of any other man or order of men" (Smith 93).