Adam Smith (b. June 5, 1723, d. July 17, 1790) was a pioneering Scottish economist and philosopher, widely cited as the 'Father of Economics' and a major proponent of laissez-faire economic policies. Educated at the universities of Glasgow and Oxford, Smith laid the foundations of classical free market economic theory with his seminal work, 'An Inquiry into the Nature and Causes of the Wealth of N...