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Adam Smith (1723-1790) was a British economist, philosopher and writer, widely regarded as the “Father of Economics”. In his magnum opus, The Wealth of Nations, he formalized the concepts of a free market economy, division of labour and presented the merits of rational self-preservation and healthy competition being necessary to fostering economic welfare.
Our Favourite Adam Smith Quote
“Man is an animal that makes bargains: no other animal does this — no dog exchanges bones with another.”