Born 16th June, 1743, Adam Smith was one of the greatest minds of the Scottish Enlightenment. He is regarded by many to be the “Father of Economics”, and deservedly so. His book, An Inquiry in the Nature and Causes of the Wealth of Nations, published in that miraculous year 1776, set the theoretical foundations of free markets.
Economics is a branch of moral philosophy. Smith’s other book, published in 1759, is The Theory of Moral Sentiments. Here are a few quotes from the two books. Continue reading