Adam Smith

Adam Smith (1723–1790) was a Scottish economist and philosopher, a central figure of the Scottish Enlightenment. Born in Kirkcaldy and educated at Glasgow and Oxford, he became a professor of moral philosophy at the University of Glasgow. He is widely regarded as the father of modern economics and capitalism, pioneering the study of political economy. His work shifted focus from divine will to natural, social, and legal factors in explaining wealth and power.

Smith is best known for two major works: The Theory of Moral Sentiments (1759) and An Inquiry into the Nature and Causes of the Wealth of Nations (1776). The latter, often called The Wealth of Nations, is his magnum opus and marks the inception of modern economic scholarship. In it, he developed concepts like the division of labour and absolute advantage, arguing that rational self-interest and competition drive economic prosperity. His ideas laid the foundation for classical free-market theory.

Reading Adam Smith in translation

Adam Smith writes in clear, analytical English, characteristic of the eighteenth-century Enlightenment. His prose is structured and logical, often employing long, complex sentences to explore intricate economic and philosophical arguments. While his vocabulary is precise, terms related to political economy and moral philosophy may require careful attention. The text relies on exposition and reasoning rather than dialogue or narrative description. On Paralelo, you will read An Inquiry into the Nature and Causes of the Wealth of Nations aligned phrase by phrase with a German translation. This book is the shortest in our catalogue, taking approximately 1725 minutes to read, making it an ideal starting point. Use your English knowledge as an anchor to navigate the German text, building your understanding of Smith’s foundational ideas in a new language.