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Adam Smith

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The greatest of Scotchmen was the first economist, Adam Smith.
--
John Kenneth Galbraith (1977) The Age of Uncertainty, Chapter 1, p. 13

 
Adam Smith

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Adam Smith was the first academic economist; and his career is not very different from that of many economists in the last hundred and fifty years.

 
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But Adam Smith was a philosopher as well as well as an economist, famous in his time as much for his Theory of Moral Sentiments as for The Wealth of Nations. And as he understood so well, society is more than the sum of its individual parts.

 
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Adam Smith, who has strong claim to being both the Adam and the Smith of systematic economics, was a professor of moral philosophy and it was at that forge that economics was made.

 
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If I were five-and-twenty or thirty, instead of, unhappily, twice that number of years, I would take Adam Smith in hand—I would not go beyond him, I would have no politics in it—I would take Adam Smith in hand, and I would have a League for free trade in Land just as we had a League for free trade in Corn. You will find just the same authority in Adam Smith for the one as for the other; and if it were only taken up as it must be taken up to succeed, not as a political, revolutionary, Radical, Chartist notion, but taken up on politico-economic grounds, the agitation would be certain to succeed; and if you apply free trade in land and to labour too—that is, by getting rid of those abominable restrictions in your parish settlements, and the like—then, I say, the men who do that will have done for England probably more than we have been able to do by making free trade in corn.

 
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Adam Smith, the greatest exponent of free enterprise economics till Hayek and Friedman.

 
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