Adam Smith, a Scottish economist and philosopher, was born in Kirkcaldy, Fife, Scotland. The exact date of his birth is unknown, however, he was baptized on June 5, 1723. Adam Smith was the son of Adam Smith, the comptroller of the customs at Kirkcaldy, and of Margaret Douglas. He was the only child of the married couple. His father died a few months before he was born. He was a feeble and sick child during infancy. He required all the attention he could receive from his only remaining parent. He grew up with an infinite indulgence, but this did not effect "his temper or disposition" (Stewart 1).

             Adam attended the grammar school of Kirkcaldy where he received his education during his youth. Smith had a profound passion for books and had an extraordinary memory. He was described as being "[uncommonly to a] degree friendly and generous." He was habitual in that he spoke to himself whenever he found himself without company, which was frequent. After his attendance of the grammar school Smith entered the University of Glasgow in 1737 and became a student of moral philosophy. He then transferred to Balliol College, Oxford, three years later. He continued to attend the college until 1746. In 1748 Smith began to deliver a series of public lectures in Edinburgh on "the progress of opulence", or on wealth and its increase. In 1751 Smith was appointed professor of logic at Glasgow, and the next year he became the professor of moral philosophy. His subject matter included ethics, law, rhetoric, and political economy or economics.

             Adam Smith became one of the most influential figures in the development of modern economic theory due to his influential work "An Inquiry into the Nature and Causes of the Wealth of Nations", written in 1776. But long before he distinguished himself as a political economist he had gained a reputation for his contemplation on moral philosophy.