Adam Smith, Thomas Malthus, and David Ricardo are classical economists whose discoveries in the late eighteenth and early nineteenth century made a great impact on economics to this day. Adam Smith is considered by many to be the “father of modern economics.” He is best known for his groundbreaking book, An Inquiry into the Nature and Causes of Wealth of Nations, published in 1776. In this book he described the workings of a market economy, the …showed first 75 words of 568 total…

…showed last 75 words of 568 total…spent here is a “gloomy state where the worker just barely subsisted, where the capitalist was cheated of his efforts, and where the landlord gloated over his unearned and constantly growing spoil” (Heilbroner 94). All this came about after the hopeful prospects of Adam Smith and his Wealth of Nations. Works cited: Bagby, Wesley. Introduction to Social Science and Contemporary Issues. Chicago: Nelson Hall Publishers, 1995. Heilbroner, Robert L. The Worldly Philosophers. New York: Simon and Schuster, 1953.