Intro
Adam Smith is regarded as the father of modern economics thanks to his development of a multitude of foundational economic theories and concepts on which the discipline was built. Some of his most influential contributions include division of labor, gross domestic product (GDP), and the theory of the invisible hand.
While Smith is known principally as an economist, he also made notable contributions to the fields of philosophy and psychology, and even wrote a comprehensive history of the field of astronomy. In his 67 years, Smith created a remarkable legacy, which has shaped the way we think and the way our society functions.
It is not from the benevolence of the butcher, the brewer, or the baker, that we expect our dinner, but from their regard to their own interest. We address ourselves, not to their humanity but to their self-love, and never talk to them of our necessities but of their advantages.
– Adam Smith in his book An Inquiry into the Nature and Causes of the Wealth of Nations
