Adam Smith

Adam Smith (1723–1790) was a Scottish economist and philosopher, a key figure in the Scottish Enlightenment, best known as the 'father of modern economics' for his seminal works *The Theory of Moral Sentiments* (1759) and *An Inquiry into the Nature and Causes of the Wealth of Nations* (1776). In *The Wealth of Nations*, he introduced concepts like the division of labor, free markets, and the 'invisible hand,' challenging mercantilism and laying the foundations of classical liberalism and political economy. He studied at Glasgow and Oxford, lectured in Edinburgh, taught at the University of Glasgow, and later served as a customs commissioner before retiring to Kirkcaldy.