Born in Kirkcaldy in 1723, Adam Smith was a social thinker and political economist known as 'The Father of Economics' and for laying the foundations of the new-age economic system. This year marks his tercentenary. Here are some interesting facts about Adam Smith:
- He didn't know his birithday. Baptised in June 1723, there was no record of his birth.
- His father passed away shortly before his birth, and he was raised by his mother.
- He was hilariously absent-minded. He once put bread and butter in a teapot, drunk the concoction and declared it to be the worst cup of tea he'd ever had.
- He was the first Scotsman to appear on English money.
- There is an asteroid named after him.
- His personal library consisted of nearly 1,500 books.
- Many of Adam Smith’s famous economic catchphrases, like “the invisible hand”, were taken from Shakespeare.
- His home, along with others in Kirkcaldy, was among the first in Scotland to have ceramic roofing tile instead of thatch.
- Smith trained to be an Anglican priest, but never took vows.
- He was briefly kidnapped by travellers as a young boy before being returned.
- When he was 14 years old, Smith enrolled at the University of Glasgow, and studied philosophy. He went on to post-graduate study at Oxford University.
- Smith is best known for two classic works: An Inquiry into the Nature and Causes of the Wealth of Nations and The Theory of Moral Sentiments.
- The Wealth of Nations is considered his magnum opus and the first modern work of economics.
- Adam Smith is buried in a public cemetery in Edinburgh.