This paper offers a fresh perspective on Adam Smith, positioning him as a significant political theorist. It challenges the conventional understanding of Smith's reliance on conjectural history and a simplistic 'four stages' theory of history. Instead, it reveals Smith's extensive comparative historical analysis, underpinned by the best historical sources of his time. The critique of imperialism and slavery, central to Smith's understanding of human dignity and freedom, is also highlighted. The paper acknowledges the complexities in reconciling Smith's 'stages' theory with his political-historical analysis. Nevertheless, it underscores Smith's sophisticated analyses of various political systems of his era, demonstrating his profound engagement with political-economic history.