Adam Smith Timeline

Smith published The Theory of Moral Sentiments in 1759, embodying some of his Glasgow lectures. It was sold by co-publishers Andrew Millar of London and Alexander Kincaid of Edinburgh. He based his explanation of morality not on a special 'moral sense' or utility, but on mutual sympathy, best captured by the modern concept of empathy.

Image source: The Theory of Moral Sentiments

Smith's Lectures on Justice, Police, Revenue, and Arms were delivered in 1763, though they were not first published until 1896. They form part of the record of his teaching at Glasgow.

An Inquiry into the Nature and Causes of the Wealth of Nations was published in 1776 and was an instant success, selling out its first edition in only six months. It is considered one of the foundational works of economics, and Smith used the term 'the invisible hand' within it.

Image source: The Wealth of Nations

The publication in 1777 of Smith's letter to William Strahan, in which he described David Hume's courage in the face of death despite his irreligiosity, attracted considerable controversy.

Smith had mentioned an early unpublished History of Astronomy as probably suitable for publication, and it duly appeared in 1795, along with other material such as Essays on Philosophical Subjects.

Richard Cobden, Smith's most prominent disciple in 19th-century Britain, preferred Smith's first proposal regarding colonies. Cobden led the Anti-Corn Law League in overturning the Corn Laws in 1846, shifting Britain to a policy of free trade and empire 'on the cheap'.

Image source: Anti–Corn Law League

The first volume of Karl Marx's major work, Das Kapital, was published in German in 1867, engaging critically with the classical economic tradition that Smith helped found.

Image source: Das Kapital

Between 1867 and 1870, a statue of Smith was built into the outside wall of 6 Burlington Gardens, then the headquarters of the University of London (now home to the Royal Academy of Arts).

The body of theory later termed 'neoclassical economics' or 'marginalism' formed from about 1870 to 1910. Disagreement exists between classical and neoclassical economists about the central message of The Wealth of Nations.

Image source: Neoclassical economics

On the death in 1878 of her husband, the Reverend W. Bannerman, Smith-related library materials passed to his widow, and on her death in 1879 her portion of the library went intact to the New College (of the Free Church) in Edinburgh.

Image source: New College, Edinburgh

In 1972 the collection of Smith-related materials held at New College was transferred to the University of Edinburgh Main Library, preserving his literary legacy.

Image source: Edinburgh University Library

The bicentennial anniversary of the publication of The Wealth of Nations was celebrated in 1976, resulting in increased interest in The Theory of Moral Sentiments and his other works throughout academia. After 1976, Smith was more likely represented as author of both works and founder of moral philosophy and economics. The Glasgow Edition of his works, including Lectures on Jurisprudence, was also published that year.

Smith has been commemorated in the UK on banknotes printed by two different banks; his portrait has appeared since 1981 on the £50 notes issued by the Clydesdale Bank in Scotland.

In 2005 The Wealth of Nations was named among the 100 Best Scottish Books of all time, cementing its place in Scotland's cultural heritage.

In March 2007 Smith's image appeared on the new series of £20 notes issued by the Bank of England, making him the first Scotsman to feature on an English banknote. Line engravings for covers of 19th-century reprints of The Wealth of Nations had been based largely on Tassie's medallion of Smith.

Image source: Bank of England £20 note

In 2008, Panmure House—where Smith resided from 1778 to 1790—was purchased by the Edinburgh Business School at Heriot-Watt University and funds were raised for its restoration.

Image source: Panmure House

A large-scale memorial of Smith by sculptor Alexander Stoddart was unveiled on 4 July 2008 in Edinburgh, honoring the economist in his home country.

Smith appears as the narrator in the 2013 play The Low Road, centred on a proponent of laissez-faire economics in the late 18th century but dealing obliquely with the 2008 financial crisis and the Great Recession; he was portrayed by Bill Paterson in the premiere production at the Royal Court Theatre in London.

In 2018 Panmure House was formally opened as a study centre in Smith's honour, preserving the residence where he lived and died as a place of scholarship.

Five paving stones, displaying quotations from Smith's works, were unveiled in December 2023 on High Street in Glasgow, commemorating his enduring influence in the city where he taught.