How Did Adam Smith Contribute To Capitalism

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Economies have always been a part of our history, from bartering to free enterprises. Nowadays, capitalism is one of the most used economic systems used throughout the world. But how did modern capitalism come about? It was all because of a Scottish economist and philosopher, Adam Smith, whose book series changed the course of history.
Early Life
The earliest recorded date of Adam Smith’s existence was June of 1723, when he was baptized. He was raised by his mother as his father died six months before his birth. He went to the local parish school in Kirkcaldy, Scotland and around the age of 14, he attended Glasgow College. Shortly after that, he went to Baliol College at Oxford University.
During his time at Glasgow College, he studied moral philosophy with professor Francis Hutcheson. Hutcheson was very influential on Smith’s life as Smith applied the term “the never-to-be-forgotten” to his name (“Biography of Adam Smith.”) Hutcheson was a part of the Scottish Enlightenment and that movement broadened Adam Smith’s scope on philosophy.
Later, he graduated from Oxford, he was appointed by Lord Kames to lecture publically all over Edinburgh. He continued to rhetoric about economic philosophy. During this time, he met David Hume. They became friends during this time and Hume later became an
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For example, many founding fathers of the American Revolution referred to Wealth of Nations. Those included are “Adams, Jefferson, Madison and Hamilton” (Krueger, 2001). In a fifth edition of Wealth of Nations, George Washington’s signature can be found in it. Washington displayed Smith’s sentiments as in his farewell address Washington speaks “against monopolies and the political influence that accompanies economic power” (Krueger,
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