Adam Smith

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Definition: Adam Smith

Full Definition of Adam Smith

Adam Smith (1723-1790) is the Scottish-born “father of economics.”

Smith deals with the free market system and the resulting system of goods, services, and prices. His magnum opus was The Wealth of Nations, wherein is found Smith’s theory of the invisible hand that guides individuals working in their own interest to improve society as a whole, even though that is not their intention.

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Adam Smith. Payroll & Accounting Heaven Ltd. (accessed: September 25, 2021).
American Psychological Association (APA):
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Definition Sources

Definitions for Adam Smith are sourced/syndicated and enhanced from:

  • A Dictionary of Economics (Oxford Quick Reference)
  • Oxford Dictionary Of Accounting
  • Oxford Dictionary Of Business & Management

This glossary post was last updated: 4th August, 2021 | 0 Views.