Which Scottish philosopher and economist is considered the father of modern economics thanks to his work “The Wealth of Nations”?

Adam Smith

Adam Smith, with the publication of "The Wealth of Nations" in 1776, laid the foundations of modern political economy. He introduced key concepts such as the invisible hand, arguing that free markets regulated by competition can lead to an efficient allocation of resources. Smith advocated for the importance of the division of labor and defended the idea that the pursuit of self-interest contributes to the overall well-being of society. His work has profoundly influenced economic thought and the liberal policies that have shaped modern Western societies.