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[[image:AdamSmith2.jpg|thumb|Adam Smith]]
native_name = shahabad markanda|
{{Otherpeople|Adam Smith}}
type = city |
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state_name = Haryana |
district = [[Kurukshetra District|Kurukshetra]] |
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altitude = 30°9'49"N 76°52'15"E |
population_as_of = 2001 |
population_total = 37,130|
population_density = |
area_magnitude= sq. km |
area_total = |
area_telephone = 01744 |
postal_code = 136135|
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'''Shahbad''' is a city and a [[Local Governance in India| Municipal Committee]] in [[Kurukshetra District]] in the [[India]]n [[States and territories of India|state]] of [[Haryana]].
==Demographics==
'''Adam Smith, [[Royal Society of London|FRS]]''' (Baptised [[June 5]], [[1723]] – [[July 17]], [[1790]]) was a [[Scotland|Scottish]] [[political economy|political economist]] and [[moral philosophy|moral philosopher]]. His ''[[The Wealth of Nations|Inquiry into the Nature and Causes of the Wealth of Nations]]'' was one of the earliest attempts to study the historical development of industry and commerce in [[Europe]]. That work helped to create the modern academic discipline of [[economics]] and provided one of the best-known intellectual rationales for [[free trade]] and [[capitalism]].
[[As of 2001]] India [[census]]{{GR|India}}, Shahbad had a population of 37,130. Males constitute 53% of the population and females 47%. Shahbad has an average literacy rate of 73%, higher than the national average of 59.5%: male literacy is 76%, and female literacy is 69%. In Shahbad, 11% of the population is under 6 years of age.
==Location==
Shahbad lies 21 kilometers south of [[Ambala]] on the Ambala [[Delhi]] Highway. It is some 30 kilometers to the North of [[Kurukshetra]] city, which is the capital of the district. Shahbad is on the national highway, and has a railway station on the Delhi Ambala line.
It lies on the banks of the river [[Markanda]]- A tributary of the [[Ghaggar]], and supposed to be a part of the ancient/ Vedic [[Saraswati River]] Basin system. There is a large historic temple on the banks of the river with Markendeshwar, the river sage/deity being worshipped there.
There is also a road from [[Panchkula]], via Ramgarh and Dosarka that comes out near Shahbad.
There are also direct roads to [[Ladwa]] and [[Radaur]] as well as [[Yamunanagar]] from Shahbad.All these being east of Shahbad. [[Pipli]], near [[Kurukshetra]] and [[Nilokheri]] are other nearby towns on the National highway.
==BiographyEconomy==
It is a significant agricultural market for procurement of agricultural products. The area being on a river bank is fertile and is used for paddy as well as wheat and vegetables. The yield is very high, and the belt till [[Karnal]] has a large number of rice mills to pick up the high quality grain.
{{liberalism}}
==Sports==
Smith was the son of the controller of the customs at [[Kirkcaldy]], [[Fife]], [[Scotland]]. The exact date of his birth is unknown, but he was baptized at Kirkcaldy on [[June 5]], [[1723]], his father having died some six months previously. At around the age of 4, he was kidnapped by a band of [[Roma people]], but he was quickly rescued by his uncle and returned to his mother. Smith's biographer, John Rae, commented wryly that he feared Smith would have made "a poor Gypsy."
Of late Shahbad has produced a large number of women hockey players. This is thanks to the efforts of Coach Baldev Singh, who is also a Asst Director in the Haryana Sports department. The current national Hockey team has 12 women from Shahbad. For the last decade Shahbad has produced a large number of women Hockey players who have donned Haryana , [[Railways]] or Indian team colours. It has got the epithet of [[Sansarpur]] of Women's hockey. Current national team representatives from Shahbad are :- Suman Bala, Nutan, Meenakshi, Simarjeet Kaur, Balwinder Kaur, Kiran Bala, Gurpreet Kaur, Jasjeet Kaur, Rajni Bala, Rajwinder, Gagandeep Kaur and Surinder Kaur.
==History==
At the age of about fifteen, Smith came to find his sexual orientation changing to that of a homosexual and proceeded to the [[University of Glasgow]], studying moral philosophy under "the never-to-be-forgotten" (as Smith called him) [[Francis Hutcheson (philosopher)|Francis Hutcheson]]. Here Smith developed his strong passion for liberty, reason and free speech. In [[1740]] he entered [[Balliol College, Oxford]], but as William Robert Scott has said, "the [[University of Oxford|Oxford]] of his time gave little if any help towards what was to be his lifework," and he left the university in [[1746]]. In [[1748]] he began delivering public lectures in [[Edinburgh]] under the patronage of [[Lord Kames]]. Some of these dealt with rhetoric and ''belles-lettres'', but later he took up the subject of "the progress of opulence," and it was then, in his middle or late 20s, that he first expounded the economic philosophy of "the obvious and simple system of natural liberty" which he was later to proclaim to the world in his ''Inquiry into the Nature and Causes of the Wealth of Nations''. About [[1750]] he met [[David Hume]], who became one of the closest of his many friends.
Historically it was a muslim majority town, with references made to a fort during Mughal times, and raids as well as sacking of the fort by [[Banda Bahadur]]. Significantly it also has a historic gurudwara of those times. After partition most of the muslims left, and Punjabi Sikh's and Hindu's from Pakistan were resettled here. The town and surrounding villages hence have a large Punjabi presence.
At the time of partition it was a small village, but has subsequently grown and now even has to urban area sectors planned and developed by [[HUDA]].
==Links==
In [[1751]] Smith was appointed professor on [[logic]] at the University of Glasgow, transferring in [[1752]] to the chair of [[moral philosophy]]. His lectures covered the fields of [[ethics]], [[rhetoric]], [[jurisprudence]], [[political economy]], and "police and revenue." In [[1759]] he published his ''[[The Theory of Moral Sentiments]]'', embodying some of his Glasgow lectures. This work, which established Smith's reputation in his day, was concerned with how human communication depends on sympathy between agent and spectator (that is, the individual and other members of society). His capacity for fluent, persuasive, if rather rhetorical argument is much in evidence. He bases his explanation, not as the third Lord Shaftesbury and Hutcheson had done, on a special "moral sense", nor (like Hume) on [[utilitarianism|utility]], but on sympathy.
Article on hockey in Shahbad [http://www.tribuneindia.com/2004/20040228/spr-trib.htm#1]
Smith now began to give more attention to jurisprudence and economics in his lecture and less to his theories of morals. An impression can be obtained as to the development of his ideas on political economy from the notes of his lectures taken down by a student in about [[1763]] which were later edited by E. Cannan (''Lectures on Justice, Police, Revenue and Arms'', [[1896]]), and from what Scott, its discoverer and publisher, describes as "An Early Draft of Part of The Wealth of Nations", which he dates about 1763.
{{Haryana-geo-stub}}
At the end of 1763 Smith obtained a lucrative post as tutor to the young [[Henry Scott, 3rd Duke of Buccleuch|Duke of Buccleuch]] and resigned his professorship. From [[1764]]-[[1766|66]] he traveled with his pupil, mostly in France, where he came to know such intellectual leaders as [[Anne Robert Jacques Turgot, Baron de Laune|Turgot]], [[Jean le Rond d'Alembert| Jean D'Alembert]], [[André Morellet]], [[Helvétius]] and, in particular, [[Francois Quesnay]], the head of the [[physiocrats|Physiocratic school]] whose work he much respected. On returning home to Kirkcaldy he devoted much of the next ten years to his [[magnum opus]], ''An Inquiry into the Nature and Causes of the Wealth of Nations,'' which appeared in [[1776]]. It was very well-received and popular, and Smith became famous. In [[1778]] he was appointed to a comfortable post as commissioner of customs in Scotland and went to live with his mother in Edinburgh. He died there on July 17, 1790, after a painful illness. He had apparently devoted a considerable part of his income to numerous secret acts of charity.
[[Category:Cities and towns in Haryana]]
[[Category:Kurukshetra]]
==Works==
Shortly before his death Smith had nearly all his manuscripts destroyed. In his last years he seemed to have been planning two major treatises, one on the theory and history of law and one on the sciences and arts. The posthumously published ''Essays on Philosophical Subjects'' ([[1795]]) probably contain parts of what would have been the latter treatise.
[[pt:Shahbad]]
''The Wealth of Nations'' was influential since it did so much to create the field of economics and develop it into an autonomous systematic discipline. In the Western world, it is arguably the most influential book on the subject ever published. When the book, which has become a classic [[manifesto]] against [[mercantilism]] (the theory that large reserves of [[bullion]] are essential for economic success), appeared in [[1776]], there was a strong sentiment for [[free trade]] in both [[Kingdom of Great Britain|Britain]] and [[United States|America]]. This new feeling had been born out of the economic hardships and poverty caused by the war. However, at the time of publication, not everybody was immediately convinced of the advantages of [[free trade]]: the British public and [[Houses of Parliament|Parliament]] still clung to mercantilism for many years to come.
''The Wealth of Nations'' also rejects the [[Physiocrats|Physiocratic]] school's emphasis on the importance of land; instead, Smith believed labour was tantamount, and that a [[division of labour]] would effect a great increase in production. ''Nations'' was so successful, in fact, that it led to the abandonment of earlier economic schools, and later economists, such as [[Thomas Malthus]] and [[David Ricardo]], focused on refining Smith's theory into what is now known as [[classical economics]]. ([[Modern economics]] evolved from this.) Malthus expanded Smith's ruminations on [[overpopulation]], while Ricardo believed in the "[[iron law of wages]]" — that overpopulation would prevent wages from topping the subsistence level. Smith postulated an increase of wages with an increase in production, a view considered more accurate today.
One of the main points of ''The Wealth of Nations'' is that the free market, while appearing chaotic and unrestrained, is actually guided to produce the right amount and variety of goods by a so-called "[[Invisible Hand|invisible hand]]". If a product shortage occurs, for instance, its price rises, creating a profit margin that creates an incentive for others to enter production, eventually curing the shortage. If too many producers enter the market, the increased [[competition]] among manufacturers and increased supply would lower the price of the product to its production cost, the "[[natural price]]". Even as profits are zeroed out at the "natural price," there would be incentives to produce goods and services, as all costs of production, including compensation for the owner's labour, are also built into the price of the goods. If prices dipped below a zero profit, producers would drop out of the market; if they were above a zero profit, producers would enter the market. Smith believed that while human motives are often [[selfishness|selfish]] and [[Greed (emotion)|greedy]], the competition in the free market would tend to benefit society as a whole by keeping prices low, while still building in an incentive for a wide variety of goods and services. Nevertheless, he was wary of businessmen and argued against the formation of [[monopoly|monopolies]].
Smith vigourously attacked the antiquated government restrictions which he thought were hindering industrial expansion. In fact, he attacked most forms of government interference in the economic process, including [[tariff]]s, arguing that this creates inefficiency and high prices in the long run. This theory, now referred to as "[[laissez-faire]]", influenced government legislation in later years, especially during the [[19th century]].
==''"Das Adam-Smith-Problem"''==
There has been considerable controversy as to whether there is a contradiction between Smith's emphasis on sympathy in his ''Theory of Moral Sentiments'' and the key role of self-interest in ''The Wealth of Nations''. Economist [[Joseph Schumpeter]] referred to this in German as ''das Adam Smith Problem.''[http://de.wikipedia.org/wiki/Adam-Smith-Problem] In his ''Moral Sentiments'' Smith seems to emphasize the broad synchronization of human intention and behavior under a beneficent Providence, while in ''The Wealth of Nations'', in spite of the general theme of "the invisible hand" creating harmony out of conflicting self-interests, he finds many more occasions for pointing out cases of conflict and of the narrow selfishness of human motives. Yet it would be inaccurate to describe the Adam Smith of the ''Moral Sentiments'' as disbelieving of an essential selfishness of most human motives, for he writes that:
:''"Thus self-preservation, and the propagation of the species, are the great ends which Nature seems to have proposed in the formation of all animals. Mankind are endowed with a desire of those ends, and an aversion to the contrary; with a love of life, and a dread of dissolution; with a desire of the continuance and perpetuity of the species, and with an aversion to the thoughts of its intire extinction. But though we are in this manner endowed with a very strong desire of those ends, it has not been intrusted to the slow and uncertain determinations of our reason, to find out the proper means of bringing them about. Nature has directed us to the greater part of these by original and immediate instincts. Hunger, thirst, the passion which unites the two sexes, the love of pleasure, and the dread of pain, prompt us to apply those means for their own sakes, and without any consideration of their tendency to those beneficent ends which the great Director of nature intended to produce by them."''
==Influence==
''The Wealth of Nations'', and to a lesser extent ''The Theory of Moral Sentiments'', have become the starting point for any defence or critique of forms of [[capitalism]], most influentially in the writings of [[Karl Marx|Marx]] and [[Humanist economics|Humanist economists]]. Because capitalism is so often associated with unbridled [[selfishness]], there is a recent movement to emphasize the moral philosophy of Smith, with its focus on [[sympathy]] with one's fellows.
There has been some controversy over the extent of Smith's originality in ''The Wealth of Nations''; some argue that the work added modestly to the already established ideas of thinkers such as [[David Hume]] and the [[Charles de Secondat, Baron de Montesquieu|Baron de Montesquieu]]. Indeed, many of the theories Smith sets out simply describe historical trends away from [[mercantilism]], towards [[free-trade]], that had been developing for many decades, and had already had significant influence on governmental policy. Nevertheless, it organizes their ideas comprehensively, and remains one of the most influential and important books in the field today.
Smith was ranked #30 in [[Michael H. Hart]]'s [[The 100|list of the most influential figures in history]].
''See also: [[History of economic thought]]''
==Bibliography==
* Smith, Adam. ''The Theory of Moral Sentiments''. 1759.
* Smith, Adam. ''An Inquiry into the Nature and Causes of the Wealth of Nations'' (The Wealth of Nations). 1776.
==See also==
*[[Liberalism]]
*[[Contributions to liberal theory]]
*[[Adam Smith rule]]
*[[capitalism]]
*[[Anders Chydenius]]
==External links==
{{Wikiquote}}
*[http://www.econlib.org/library/Enc/bios/Smith.html Biography] at the ''Concise Encyclopedia of Economics''
*[http://www.econlib.org/library/YPDBooks/Rae/raeLS.html ''Life of Adam Smith''] by John Rae, at the Library of Economics and Liberty
*[http://cepa.newschool.edu/het/profiles/smith.htm Smith's works]
*[http://econ161.berkeley.edu/Economists/smith.html Brad deLong's Adam Smith page]
*[http://www.adamsmith.org The Adam Smith Institute]
*[http://www.libertyforums.com/ LibertyForums] - Classical Liberal, Libertarian & Objectivist Discussion Board.
*[http://www.boomerbible.com/adam20.html Excerpt from "The Book of the VIP Adam"]
Adam Smith is buried in Canongate Churchyard, Royal Mile, Edinburgh
*[http://web.uvic.ca/~rutherfo/a_smith.html Grave of Adam Smith] on the [http://web.uvic.ca/~rutherfo/mr_grvs.html Famous Economists Grave Sites]
===Works===
{{Wikisource author}}
*[http://www.econlib.org/library/Smith/smWN.html ''The Wealth of Nations''] at the [http://www.econlib.org/index.html Library of Economics and Liberty]. Cannan edition. Definitive, fully searchable, free online.
*{{Gutenberg|no=3300|name=The Wealth of Nations}}
*[http://www.mondopolitico.com/library/wealthofnations/toc.htm ''The Wealth of Nations''] from [http://www.mondopolitico.com/library/ Mondo Politico Library] - full text; formatted for easy on-screen reading.
*[http://www.adamsmith.org/smith/won-intro.htm ''The Wealth of Nations''] from the [http://www.adamsmith.org/ Adam Smith Institute] - elegantly formatted for on-screen reading
*[http://oll.libertyfund.org/Home3/BookSetToCPage.php?recordID=0141 ''Works and Correspondence of Adam Smith'']. Glasgow edition, 7 volumes at the [http://oll.libertyfund.org/ Online Library of Liberty]. Definitive, free online.
*[http://www.econlib.org/library/Smith/smMS.html ''The Theory of Moral Sentiments''] at the [http://www.econlib.org/index.html Library of Economics and Liberty]
===Images===
The National Portrait Gallery has several images of Adam Smith
*[http://www.npg.org.uk/live/search/ Search the collection]
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