What was Adam smith's impact on age?

Answer 1

Adam Smith, often regarded as the father of modern economics, profoundly impacted the Age of Enlightenment by introducing the concept of the "invisible hand," which suggests that individual self-interest inadvertently benefits society as a whole. His seminal work, "The Wealth of Nations," laid the groundwork for free-market capitalism and emphasized the importance of competition and division of labor. Smith's ideas challenged mercantilist practices and promoted economic growth through trade and innovation, influencing both economic theory and policy in subsequent centuries. His legacy continues to shape discussions on capitalism and economic philosophy today.