1)Personality

2)absent-minded
2) peculiar speech and gait
2)Talked to himself
2)"I am a beau in nothing but my books."
1)Religious veiws
2)Diest
3)Reason/Natural world can prove a Supreme being created the
world
4)Without organized religion
3)Supremebeing didnt affect human affairs
3)reject prophecy/miracles
1)Friends
2)David Hume
3)Agreed on most matters
2)"It is not from the benevolence of the butcher, the brewer, or the
baker, that we expect our dinner, but from their regard to their own
interest. We address ourselves, not to their humanity but to their self-
love, and never talk to them of our own necessities but of their
advantages."

1)Invisible Hand
2) individual pursues his self-interest, he indirectly promotes the
good of society
2)Expressed in "The Theory Moral Sentiments"/"The Wealth of
Nations"
1)The Theory of Moral Sentiments (Economic Liberty)
2)Smith considered this his best work
2)Focus
3)situations man's morality plays a dominant role among personal
exchanges
2)Examines
3) Moral thinking of his time/suggests that conscience arises from
social relationships
2)Goal
3) Explain source mankind's ability form moral judgements
4) In spite of man's inclinations towards self-interest
1)The Wealth of Nations
2)Focus
3)situations where man's morality is likely to play a smaller role
2)Explains how self-interest was the engine of the economy and
competition its governor.
2)"He generally, indeed, neither intends to promote the public
interest, nor knows how much he is promoting it. By preferring the
support of domestic to that of foreign industry, he intends only his own
security; and by directing that industry in such a manner as its produce
may be of the greatest value, he intends only his own gain, and he is in
this, as in many other cases, led by an invisible hand to promote an
end which was no part of his intention.

1)Trade
2) Against mercantalism
3)Increase in national wealth is labor, not the nation's quantity of
gold or silver
2) Believed in Free Trade
3)Trade not interfierd by government
2) "...in any particular branch of trade or manufactures, is always in
some respects different from, and even opposite to, that of the
public...The proposal of any new law or regulation of commerce which
comes from this order, ought always to be listened to with great
precaution, and ought never be adopted till after having been long and
carefully examined, not only with the most scrupulous, but with the
most suspicious attention."
2) physiocratical concept
3)wealth of nations was derived solely from the value of land
agriculture or land development

1)Quotes
2)Invisible Hand
3) "Every individual necessarily labors to render the annual
revenue of the society as great as he can. He generally indeed neither
intends to promote the public interest, nor knows how much he is
promoting it. He intends only his own gain, and he is in this, as in many
other cases, led by an invisible hand to promote an end which was no
part of his intention. By pursuing his own interest he frequently
promotes that of the society more effectually than when he really
intends to promote it. I have never known much good done by those
who affected to trade for the public good." (The Wealth of Nations).
2) Government
3)"All systems either of preference or of restraint, therefore, being
thus completely taken away, the obvious and simple system of natural
liberty establishes itself of its own accord. Every man, as long as he
does not violate the laws of justice, is left perfectly free to pursue his
own interest his own way, and to bring both his industry and capital
into competition with those of any other man or order of men. The
sovereign [politician] is completely discharged from a duty, in the
attempting to perform which he must always be exposed to
innumerable delusions, and for the proper performance of which no
human wisdom or knowledge could ever be sufficient: the duty of
superintending the industry of private people."
(The Wealth of Nations, vol. II, bk. IV, ch. 9.)
2) Monopoly
 3) "A monopoly granted either to an individual or to a trading
company has the same effect as a secret in trade or manufactures.
The monopolists, by keeping the market constantly understocked, by
never fully supplying the effectual demand, sell their commodities
much above the natural price, and raise their emoluments, whether
they consist in wages or profit, greatly above their natural rate." (vol. I,
bk. I, ch. 7.)
3) "People of the same trade seldom meet together, even for
merriment and diversion, but the conversation ends in a conspiracy
against the public, or in some contrivance to raise prices. It is
impossible indeed to prevent such meetings by any law which either
could be executed, or would be consistent with liberty and justice."
(vol. I, bk. I, ch. 10.)
2) Nature of Man
3) "The propensity to truck, barter and exchange one thing for
another is common to all men, and to be found in no other race of
animals."
2) Politicians
3) "It is the highest impertinence and presumption, therefore, in
kings and ministers [read politicians] to pretend to watch over the
economy of private people, and to restrain their expense. They are
themselves always, and without any exception, the greatest
spendthrifts in the society. Let them look well after their own expense,
and they may safely trust private people with theirs." (vol. I, bk. II, ch.
3.)
2)Science
3) "Science is the great antidote to the poison of enthusiasm and
superstition."
(The Wealth of Nations.)
3) "A system of natural philosophy [this is how they described
science in those days] may appear very plausible, and be for a long
time very generally received in the world, and yet have no foundation
in nature, nor any sort of resemblance to the truth."
(Theory of Moral Sentiments.)