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Father Of The Free Market; Break New Ground: Adam Smith's ideas charted the path to wealth for millions.(LEADERS & SUCCESS)
Byline: DONNA HOWELL
The word "capitalism" rarely evokes the image of a kindly soul who puts others before himself.
Yet that's exactly the route taken by Adam Smith -- the man known as the father of capitalism and economics. And it was his compassion and tact that helped win people over to his point of view.
"To restrain our selfish, and to indulge our benevolent affections, constitutes the perfection of human nature," wrote Smith in his 1759 book "The Theory of Moral Sentiments."
"If you think he was selfish, greedy and wealth-chasing, he wasn't at all," said Gavin Kennedy, author of the new book "Adam Smith's Lost Legacy." "He was in favor of freedom to do what you want with your own capital."
In Smith's environs, the 18th-century British Isles and Europe, workers had little ability to start new endeavors. Their meager wages, Smith observed, barely sustained them and could hardly stimulate commerce.
If they could improve their lot, Smith reasoned, that could improve the nation's.
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