Adam Smith

Adam Smith, often regarded as the father of modern economics, also contributed to political philosophy and ethics. He advocated for the idea of a "moral economy," where individual self-interest in a free market can lead to collective benefits. Smith believed in the importance of justice and virtue, suggesting that compassion and fairness are essential to society's functioning. His ideas laid the groundwork for liberalism, emphasizing limited government intervention and personal freedoms, while recognizing the need for a moral framework that guides authority and power in supporting the common good.