<P> Adam Smith FRSA ( 16 June ( O.S. 5 June ) 1723 -- 17 July 1790 ) was a Scottish economist , philosopher and author as well as a moral philosopher , a pioneer of political economy and a key figure during the Scottish Enlightenment. Smith is best known for two classic works , The Theory of Moral Sentiments ( 1759 ) and An Inquiry into the Nature and Causes of the Wealth of Nations ( 1776 ) . The latter , often abbreviated as The Wealth of Nations , is considered his magnum opus and the first modern work of economics . </P>
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Adam Smith