Which influential thinker is celebrated for developing fundamental ideas in Economics?

Adam Smith is considered the father of modern economics, and his work laid the foundation for how we understand markets today. Back in the 18th century, during the Scottish Enlightenment, Smith questioned how wealth is created and distributed. His most famous book, "The Wealth of Nations," published in 1776, introduced concepts like the division of labour and the "invisible hand" of the market. This "invisible hand" refers to the idea that individuals pursuing their own self-interest unintentionally benefit society as a whole. Smith argued that free markets, with minimal government intervention, lead to greater prosperity. While James Watt was a brilliant inventor who improved the steam engine, Richard Arkwright revolutionized textile production, and David Hume was a prominent philosopher, none of them focused on the core principles of economics in the way that Adam Smith did. So, when you think of the person who shaped our understanding of economics, Adam Smith is the key figure to remember.