Entity: ADAM-SMITH
ADAM-SMITH is a term referring to a Scottish economist and philosopher of the eighteenth century, known for his ideas on political economy and free trade.
ADAM-SMITH
Etymology
The term ADAM-SMITH is derived from the combination of the names 'Adam' and 'Smith'.
Definition
ADAM-SMITH refers to a Scottish economist and philosopher of the eighteenth century, whose ideas about economics led to the growth of modern capitalism.
Historical Context
ADAM-SMITH, also known as Adam Smith, was a pioneer in the field of political economy and a key figure during the Scottish Enlightenment. His best-known work is 'The Wealth of Nations'.
Cultural Significance
Adam Smith advocated for private enterprise and free trade, emphasizing the importance of market mechanisms in driving economic growth.
Related Concepts
Other related concepts include capitalism, political economy, and the Scottish Enlightenment.
See Also
A Scottish scholar of the eighteenth century whose ideas about economics led to the growth of modern capitalism.