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Who is the Father of Economics?
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The “Father of Economics” is widely recognized as Adam Smith. A Scottish economist and philosopher, Smith is best known for his seminal work, “The Wealth of Nations,” published in 1776. In this book, he laid the foundations for classical economics and introduced key concepts such as the division of labor, the function of markets, and the “invisible hand” that guides supply and demand. His ideas have profoundly influenced economic theory and practice, establishing the basis for modern economic thought.