Friday, December 2, 2011
Portrait of Adam Smith belongs to the serious of famous men portraits created by me for Buffalo and Company.
|Adam Smith (social philosopher and a pioneer of political economy)|
Have you ever wondered why the USA remains one of the most economically developed countries in the world? My strong belief is that the reason for a wonderful economical success of the United States was the wisdom of country’s first leaders who were greatly inspired by freedom and who had chosen and adapted economical theories which guaranteed freedom and equality of rights of each American citizen as much as it was possible within the bounds of the active legislation. Therefore it was not surprising that American intellectual leaders noticed and got interested in Adam Smith’s economic theory laid out in his “Wealth of Nations” in which he outlined the ideas of the so-called “laissez faire” philosophy. The phrase laissez faire is French and means "let do", i.e., when applied to Smith’s views, it is of paramount importance for the government not to seek to interfere in people’s economical activity unless it is an illegal business. It is now proved by the history that providing as much freedom for business as possible results in positive economical development of the country due to a sound competition and fair legislation.
I do not want to say that Adam Smith’s economic theories are perfect as there is nothing perfect in this world. However one cannot deny that the ideas of Adam Smith laid the foundation of today’s economical success of the United States of America. No wonder that Buffalo and Company chose Adam Smith as one of the greatest men who they and their customers would honor by wearing t-shirts featuring my portrait of this famous economist.