Bryan McAllister’s personal reference notebook
September 11, 2026Short & citedBlog
Civic Viewpoint.
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Kept by Bryan McAllister — short guides, clear facts, and the Canadian angle when it matters.
Money & Work • Economics

Adam Smith

Adam Smith was a Scottish philosopher and political economist best known for his 1776 book *The Wealth of Nations*, a foundational work in classical economics.

Updated September 11, 20261 min readCited sources

Adam Smith was a Scottish philosopher and political economist best known for *The Wealth of Nations*. He is a foundational figure in classical economics, associated with the division of labour and the “invisible hand.”

What it is

Adam Smith was a Scottish philosopher and political economist, a leading figure in the Scottish Enlightenment. He is best known for his 1776 book *The Wealth of Nations*, which laid the foundations of classical economics.

Why it matters

Smith’s ideas on division of labour, self-interest, and the “invisible hand” became central to economic theory and policy. In Canada, his work influences discussions on markets, trade, and regulation.

Key details

Smith published two major works: *The Theory of Moral Sentiments* (1759) and *The Wealth of Nations* (1776). He argued for free-market exchange and limited government, shaping modern capitalism.

In short

  • Foundational figure in classical economics.
  • Author of *The Wealth of Nations* and *The Theory of Moral Sentiments*.
  • Key ideas: division of labour, self-interest, invisible hand.
  • Leading figure of the Scottish Enlightenment.
Canadian angle

Adam Smith’s ideas remain important in Canadian economics, public policy, and business education, especially in discussions of markets, trade, regulation, and capitalism.

Quick questions

Who was Adam Smith?
Adam Smith was a Scottish social philosopher and political economist best known for *The Wealth of Nations*.
What is Adam Smith best known for?
He is best known for *The Wealth of Nations* (1776), a foundational text of economics.
What is the “invisible hand”?
It is the idea that individual self-interest in markets can contribute to broader social benefit.

Sources

  1. Encyclopaedia Britannica — https://www.britannica.com/biography/Adam-Smith
    Supports: Birth/death, Scottish nationality, main works, importance of The Wealth of Nations, classical liberalism.
  2. Adam Smith Works — https://www.adamsmithworks.org/documents/otteson-brief-smith-bio
    Supports: Born in 1723, Scottish Enlightenment context, two books published in lifetime.
  3. Encyclopaedia Britannica — https://www.britannica.com/summary/Adam-Smith
    Supports: Education, *The Wealth of Nations*, invisible hand, division of labour, classical economics.
  4. Wikipedia — https://en.wikipedia.org/wiki/Adam_Smith
    Supports: Two major books, pioneer in political economy, father of economics/capitalism labels.
  5. BBC — https://www.bbc.co.uk/history/historic_figures/smith_adam.shtml
    Supports: Influential Scottish political economist and philosopher, best known for *The Wealth of Nations*.
  6. Econlib — https://www.econlib.org/library/Enc/bios/Smith.html
    Supports: Free-market interpretation, foundational role in classical economics, influence on later economists.
  7. Online Library of Liberty — https://oll.libertyfund.org/people/adam-smith
    Supports: Modern economist framing, wide range of disciplines, Scottish Enlightenment, invisible hand.