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] d....

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