Part one of term paper
"Bankruptcy is perhaps the greatest and most humiliating calamity which can befall an innocent man. The greater part of men, therefore, are sufficiently careful to avoid it. Some, indeed, do not avoid it; as some do not avoid the gallows." Adam Smith. Adam Smith was a Scottish political economist and philosopher. The exact date of his b ...

Part two of term paper
... Francis Hutcheson. Smith referred to him as "the never-to-be-forgotten." In 1740, Smith entered Balliol College, Oxford. Regarding Smith, William Robert Scott has said, 'the Oxford of his time gave little if any help towards what was to be his lifework.' Smith was not happy with the money that was being spent toward an education that was not stimulating his needs at the time. He left Oxford in 1746 due to the lack of intellectual stimulation, but not before expressing his views. "Smith's host ...