When1: 1759
When2: 1776
Who: Adam Smith [Smith, Adam]
What: philosopher
Where: Scotland
works\ Theory of Moral Sentiments [1759]; Inquiry into the Nature and Causes of the Wealth of Nations [1776]
Detail: He lived 1723 to 1790 and was Hutcheson's student. In economics, he studied free trade, economies of scale, infrastructure, agriculture as economic growth basis, and labor and capital interaction.
Economics should have no regulation {laissez-faire, economics}. Colonial exploitation {mercantilism, Smith} is bad. Labor division gives more value. Economic transactions among people make markets, which need no higher-level rules or conscious-agent actions {invisible hand, Smith}.
Ethics
People judge their actions by what others' judgment will be, so social life determines ethical feelings.
Politics
Workingmen should have good conditions and education. American colonies should have legislature representation.
Social Sciences>Philosophy>History>Ethics
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Date Modified: 2022.0224