Adam Smith. Historical artwork of the British philosopher and economist Adam Smith (1723-90). Smith became professor of logic and then moral philosophy at Glasgow University. His main work was An Inquiry into the Nature and Causes of the Wealth of Nations. This was the first work to deal with economics separately from politics, ethics and law. He showed that rent, wages and profits are the source of all income. Smith believed that more wealth was produced with governmental non- interference and free trade. Then individuals acting selfishly would be led by an invisible hand" to achieve the best for all. This is Kay's portrait of 1790."