Home > Terms > Armenian (HY) > Ադամ Սմիթ
Ադամ Սմիթ
The founder of economics as we know it. Born in Kirkcaldy, Fife, Adam Smith (1723–90) was educated at Glasgow and Oxford, and in 1751 became professor of logic at Glasgow University. Eight years later he made his name by publishing the THEORY OF MORAL SENTIMENTS. His 1776 book, An Inquiry into the Nature and Causes of the Wealth of Nations, is the bible of classical economics. He emphasized the role of specialization (the division of labor), technical progress and capital investment as the main engines of economic growth. Above all, he stressed the importance of the invisible hand, the way in which self-interest pursued in free markets leads to the most efficient use of economic resources and makes everybody better off in the process.
- Ordklasse: proper noun
- Synonym(er):
- Blossary:
- Fagområde/Domene Economy
- Category: Economics
- Company: The Economist
- Produkt:
- Akronym-Forkortelse:
Andre språk:
Hva ønsker du å si?
Terms in the News
Featured Terms
սեր
Ուժեղ հոգատարություն մեկ այլ անձի հանդեպ: Դա լինում է շատ ձևերով: Կարող է լինել սեր ռոմանտիկ սիրահար զույգերի, մտերիմ ընկերների, ծնողների և երեխաների, ...
Bidragsyter
Featured blossaries
Bagar
0
Terms
64
Ordlister
6
Followers
Dark Princess - Without You
Browers Terms By Category
- Aeronautics(5992)
- Air traffic control(1257)
- Airport(1242)
- Aircraft(949)
- Aircraft maintenance(888)
- Powerplant(616)
Aviation(12294) Terms
- Action toys(4)
- Skill toys(3)
- Animals & stuffed toys(2)
- Educational toys(1)
- Baby toys(1)
Toys and games(11) Terms
- Authors(2488)
- Sportspeople(853)
- Politicians(816)
- Comedians(274)
- Personalities(267)
- Popes(204)
People(6223) Terms
- Digital Signal Processors (DSP)(1099)
- Test equipment(1007)
- Semiconductor quality(321)
- Silicon wafer(101)
- Components, parts & accessories(10)
- Process equipment(6)
Semiconductors(2548) Terms
- Body language(129)
- Corporate communications(66)
- Oral communication(29)
- Technical writing(13)
- Postal communication(8)
- Written communication(6)