Why is Adam smith called the father of capitalism?

Answer 1

Adam Smith is called the father of capitalism because of his book 'Wealth of Nations'. In this book, he described laissez faire economics.

Answer 2

Adam Smith is called the father of capitalism because of his influential work "The Wealth of Nations," published in 1776. In this book, Smith laid out the principles of free market economics and argued for minimal government intervention, individual self-interest driving economic growth, and the importance of competition in fostering economic development. His ideas have been foundational to the development of capitalist economic theory.