Adam Smith | Scottish | Oxford University Founder of modern classical economics ("invisible hand") (jan 1, 1723 – jan 1, 1790)

Description:

• Father of modern economics
• Published The Wealth of Nations in 1776
• Coined ‘the invisible hand’ to note that individuals in a society acting out of self-interest will create the most efficient mechanism for production and consumption
• Founded “classical economics” (free market economy)
• Capitalist
• Pro economic growth by the “invisible hand”
• Pro division of labor

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