Born in Kirkcaldy, Fife, Scotland, Adam Smith was determined from the start. The exact date of his birth is unknown. Smith was a Scottish political economist and philosopher, who became famous for his significant book "The Wealth of Nations" written in 1776. Smith was chosen professor of logic at Glasgow University in 1751, transferring in 1752 to the chair of moral philosophy. His lectures covered ethics, rhetoric, and political economy. He published his Theory of Moral Sentiments. This work was about the ethical ways that hold society together. Smith explained the intellectual structure of the free market, which is still true today. He is often recognized for the expression "the invisible hand," which he used to show how self-interest is the most efficient use of resources in an economy, with public welfare as a result. Smith argued that state and personal efforts that help social good are weak compared to uncontrolled market forces. On July 17, 1790, Adam Smith died after an illness. At the end it was discovered that Smith had devoted a considerable part of his income to charity.
If Mr. Smith were here today to see how our economy was performing, I think he would be incredibly surprised to see how our country ranks in comparison to other countries. Our market is generally higher than other nations; however, it can fluctuate to a point where one week it is booming and the next it is failing. Small businesses can survive here, unlike other countries, and big businesses are restricted. I think Mr. Smith would appreciate the organization behind that. Self-interest is still, in my opinion, the drive behind the market. However, the government does get involved in controlling the market and that is where I believe Mr. Smith would have the most trouble accepting, considering he believes in letting the market go. .
