Adam Smith: His Life and Scientific Activity

Adam Smith became world-famous for his “An Inquiry into the Nature and Causes of the Wealth of Nations.” Many consider him the creator of political economy.

According to Bockle, Adam Smith’s great economic discoveries “over the course of two generations produced a complete change in the commercial legislation of our country (England), and now they apply to other European states.”

Smith’s works had enormous influence on the course of economic and, in general, social life only because they were in themselves a real, genuine product and an expression of radically changed conditions of production and exchange. A revolution that took place without any declarations and proclamations of its own—found its interpreter in a man completely alien to any active life, fully immersed in his abstract pursuits.