235 years ago today, on July 17, 1790 (June 6, 1790, the lunar calendar), Adam Smith, the father of economics, passed away. Adam Smith was the founder of the British bourgeois classical political economy on June 5, 1723. Adam Smith. Founder and outstanding representative of British classical political economy. Born on June 5, 1723 in Kircaldi, Scotland, he had no brothers and sisters and was unmarried for life. He was still living with his widowed mother for many years and died in Kircaldi on July 17, 1790 at the age of 67. After graduating from Oxford University, he taught at the University of Edinburgh and the University of Glasgow. In 1776, he published his masterpiece "A Study of the Nature and Causes of National Wealth". With economic freedom as the central idea and national wealth as the research object, it systematically expounds the main contents of political economy for the first time, reveals the intrinsic connections of the bourgeois economic system, and establishes a complete theoretical system of bourgeois political economy. The first systematically discusses the basic principles of labor theory of value, believing that labor is the source of wealth and the measure of value. Due to the limitations of history and class, his economic theory has both scientific elements and mistakes. For example, on the one hand, we believe that the value of a commodity is determined by the labor expended in producing the commodity, and on the other hand, we say that the value is composed of wages, profits and land rent. In terms of distribution, profit is part of the value created by workers, and profit is the reward for the services or capital functions of the entrepreneur. But as a classical economist representing the interests of the emerging bourgeoisie, his scientific contributions and progressive role dominate. Its doctrine played a major role in British economic policy. He died in 1790.