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Adam Smith was born in 1723 in Kirkaldy, a small town near Edinburg, Scotland. At the age of 14 Adam Smith entered the University of Glasgow, which was considered one of the top universities of its time. Smith was appointed professor of logic in 1751. ... Smith then went to France and that is where he was inspired with the French economy and that drove him to start his work on his major book The Wealth of Nations. It was not until 1776 that a systematic and comprehensive treatment of economics became available, and it was in that year that Adam smith published the book that he had been working on for about 12 years.
Adam Smith felt that he had to protect the consumer from the presence of monopolies; he also stated that in order for there to be a consumer there must be goods available for purchase. ... Adam smith stated that monopolies do not help the growth of the economy, and economic groth brings forth more goods and generates higher income.
Approximate Word count = 773
Approximate Pages = 3.1
(250 words per page double spaced)
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