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Adam Smith, British economic philosopher

Adam Smith, British economic philosopher

C017/7103

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GARY BROWN / SCIENCE PHOTO LIBRARY GARY BROWN / SCIENCE PHOTO LIBRARY

Caption

Adam Smith (1723-1790), British economist and philosopher. Smith became professor of logic and then moral philosophy at Glasgow University, Scotland. His main work was 'An Enquiry into the Nature and Causes of the Wealth of Nations' (1776). This was the first work to deal with economics separately from politics, ethics and law. He showed that rent, wages and profits are the source of all income. Smith believed that more wealth was produced with governmental non-interference and free trade. In March 2007, Smith was commemorated in portrait form on the new series of £20 notes issued by the Bank of England. A £20 is in Smith's hand.

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