Adam Smith (1723–1790) was a Scottish economist and philosopher, best known as the father of modern economics. His most influential work, The Wealth of Nations (1776), laid the foundation for classical economics and introduced concepts like the "invisible hand," which suggests that individuals pursuing their own interests can benefit society. Smith emphasized free markets, limited government intervention, and the importance of competition. He also explored moral philosophy in The Theory of Moral Sentiments (1759), discussing ethics and human behavior. Smith’s ideas profoundly shaped economic thought and continue to influence global economic policy and capitalist systems today.
