Adam Smith was a great scientist who made extraordinary contributions in economics.
He was born in 1723 in Kirkcaldy, a small fishing town near Edinburgh, Scotland. His father was a customs officer. He died before his son was born.
At the age of 28 Adam Smith became a Professor of Logics at the University of Glasgow. It was his first academic appointment. Some time later he became a tutor to a wealthy Scottish duke. Then he received a grant of ?300 a year. It was a very big sum, 10 times the average income at the time.
With the financial security of his grant, Smith devoted 10 years to writing his work which founded economic science