Adam Smith: The Mind Behind 'The Wealth Of Nations' (1723 - 1790)

Adam Smith, a Scottish economist and philosopher, is best known for his seminal work, "The Wealth of Nations," published in 1776. In this groundbreaking book, Smith explored the principles of free-market economics and the division of labor, laying the foundation for modern economic theory. He argued that individuals pursuing their own self-interest in a competitive market would unintentionally promote the social good through what he famously termed the "invisible hand" mechanism. Smith emphasized the importance of specialization and productivity in driving economic growth and prosperity. His ideas revolutionized the understanding of economics and continue to influence economic thought and policy to this day.