The Theory of Moral Sentiments

Adam Smith (1723–1790) was a Scottish moral philosopher and a pioneering political economist. One of the key figures of the intellectual movement known as the Scottish Enlightenment, he is known primarily as the author of two treatises: The Theory of Moral Sentiments (1759), and An Inquiry into the Nature and Causes of the Wealth of Nations (1776). The latter was one of the earliest attempts tosystematically study the historical development of industry and commerce in Europe, as well as a sustained attack on the doctrinesof mercantilism. Smith's work helped to create the modern academic discipline of economics and provided one of the best-known intellectual rationales forfree trade, capitalism, and libertarianism.