You kooks should read Adam Smith: TheWealth of Nations You kooks should read Adam Smith: TheWealth of Nations
Which one? You probably mean the Scottish philosopher/Economist. He is most famous for defining modern economic theory in a book called "Wealth of Nations" See:http://en.wikipedia.org/wiki/Adam_Smith_%28disambiguation%29 In a roundabout way (as a result of the aforementioned philosophy/book) he is respensible for booms and busts and all the greed that causes the cycle to go from one to the other!
Lilian Adam Smith has written: 'George Adam Smith'
Christmas Cracker is Tom Smith invent.
Adam Smith was born in Kirkcaldy, Scotland.
Adam Smith was 62 when he died
Adam Smith is famous for being the first to develop the theory of supply and demand, in his famous work The Wealth of Nations. It was published at the end of the 18th century (1776). As an example, he compares water and diamonds. Without water, a human will die within days, and yet water is basically free. Diamonds are totally unneeded for survival, but are expensive. This was called the "paradox of value." He explained this by considering the relationship between price and supply. Although all people need water, there is a sufficient amount to cover this need cheaply; not all people need diamonds, but there are not enough to go around, and they are expensive to mine, so the price is high. The term "invisible hand" was used by Smith to describe the idea that individuals working in their own self interest will also work in the interest of the general welfare, by ensuring that the right goods are getting to the people who need them the most. This is a central tenant of free market economics. Adam Smith was a lawyer and civil servant. He had a lot to do with the abolition of slavery. Adam Smith was an economist and a philosopher.
Janet Adam Smith died in 1999.
Adam Smith shared is father's name of Adam Smith and his mother's name was Margaret Douglas.
Adam Smith stated the law of supply and demand.
Adam Smith was born on June 5, 1723.