Economist · 1723 – 1790
Adam Smith
Founded modern economics with The Wealth of Nations, explained the division of labor and the "invisible hand" of markets, and laid the intellectual groundwork for capitalism and classical economics.
Greatest Achievements
- Founded modern economics as a systematic discipline.
- Explained how the division of labor increases productivity.
- Described the 'invisible hand' by which self-interest can serve the common good.
Major Accomplishments
- Founded modern economics as a systematic discipline.
- Explained how the division of labor increases productivity.
- Described the 'invisible hand' by which self-interest can serve the common good.
Major Works
- The Wealth of Nations
- The Theory of Moral Sentiments
Impact Analysis
Adam Smith's analysis of markets, labor and value founded the discipline of economics and shaped centuries of debate over capitalism, trade and the role of government.
Historical influence score: 90/100