Adam Smith Quotes


But poverty, though it does not prevent the generation, is extremely unfavourable to the rearing of children. The tender plant is produced, but in so cold a soil, and so severe a climate, soon withers and dies.


Citations

Smith, Adam. An Inquiry into the Nature and Causes of the Wealth of Nations. Vol. 1, W. Strahan and T. Cadell, 1776, p. 97.

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Adam Smith
Adam Smith
  • Born: June 16, 1723
  • Died: July 17, 1790
  • Nationality: Scottish
  • Profession: Economist

Adam Smith FRSA was a Scottish economist, philosopher as well as a moral philosopher, a pioneer of political economy, and a key figure during the Scottish Enlightenment, also known as ''The Father of Economics'' or ''The Father of Capitalism''. Smith 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, Adam Smith introduced his theory of absolute advantage.