Adam Smith, a Scottish philosopher is best known as the author of one of the most, well known books ever written. He is most commonly known as the “Father of Economics.” Smith contributed to the development of Modern Economics, created the invisible hand theory, which is an invisible force that is used to guide the free market and capitalist system. Ultimately, this is aided by “says that an individual's self-interest is ultimately economically beneficial to society as a whole” (ecocommerce101). Smith contributions have changed the old way of thinking that mercantilism that stated the only way to create wealth was to hoard gold and other commodities and place tariffs on other nations, in disregard for Smiths new free trade principle. Smith not only changed the way of thinking in regards to trading he helped create a world where free trade and capitalism has flourished.
His life began at his baptism in Kirkcaldy, Scotland on June 5. 1723 His mother became a widower when he father died two months before his birth. Smith spent most of his infancy dealing with sicknesses. Although it is not specifically known what that sickness was, Colic which is excessive crying was associated with his sickness. Having being sick at an early age helped create a lasting bond between him in his mother she was considered to treat Adam Smith with “unlimited indulgence” (Ross 16). Surprisingly, at the time Culpepers Midwife Enlarged a child birth guide stated “that scare one women in twenty was fit suckle her child.” Along with the inability for mother to care for the children, Smith was able to survive a dysentery epidemic in 1723-1724 due to the carrying nature of his mother. This caring nature of would prove beneficial to Smith, which helped him develop his calm and friendly nature. Although much more is known about Smith’s adult hood then his child hood, his child hood can be considered exciting and eventful. Such as the case when he was taken by gypsies at the age of 3. There are multiple stores that detail how he was taken. Some being, That he taken near a large stone at a gypsy encampment near his hometown of Kirkcaldy, while another story states he was taken from the behind Strathenbery Castle. Many Smith experience’s as a child would deeply influence him as he grew older. Smith’s interest in learning would start in “little schools” which amongst other topics taught universal history, geometry and Latin. Smith was known to spend most of his school days studying in a “two-room building of the burgh school on Hill Street,” (Ross 18). Smith saw the early years of school crucial for the development of character, fortunately for Smith his interest for classics and history was respected amongst his peers, which helped him develop many friends and acquaintances which some would help him later in his life. In 1737, at the age of 14 Smith attended the University of Glasgow and became one the first students to benefit from the Snell Scholarship to attend Balliol...
