Adam Smith (eco-economist)

Adam Smith was an 18th-century Scottish economist and philosopher, often called the father of modern economics. He wrote "The Wealth of Nations," where he explained how individuals pursuing their own self-interest can lead to economic growth and prosperity for society as a whole. Smith introduced ideas like the "invisible hand," suggesting that free markets, with minimal government interference, naturally regulate supply, demand, and prices. His work laid the foundation for capitalist economies, emphasizing the importance of competition, division of labor, and free trade in increasing wealth and improving living standards.