Adam Smith (philosopher)

Adam Smith was an 18th-century philosopher and economist best known for his work on free markets and economic thought. He argued that individuals pursuing their own interests, guided by self-interest and competition, naturally contribute to economic prosperity and societal well-being—a concept called the "invisible hand." His book, *The Wealth of Nations*, laid the foundation for modern economics, emphasizing the importance of free trade, limited government intervention, and the benefits of specialization. Smith believed that when individuals and businesses operate freely within a well-structured economy, it leads to prosperity and innovation for society as a whole.