Adam Smith, Died

Adam Smith FRSA (baptized 16 June [O.S. 5 June] 1723 – 17 July 1790) was a Scottish[a] economist and philosopher who was a pioneer of political economy and key figure during the Scottish Enlightenment.

Also known as “The Father of Economics” or “The Father of Capitalism”, he wrote two classic works, The Theory of Moral Sentiments (1759) and An Inquiry into the Nature and Causes of the Wealth of Nations (1776).

The latter, often abbreviated as The Wealth of Nations, is considered his magnum opus and the first modern work of economics. In his work, Smith introduced his theory of absolute advantage.