Adam Smith is widely regarded as the "father of economics" or the "father of modern economics." He was an 18th-century Scottish economist and philosopher whose seminal work, An Inquiry into the Nature and Causes of the Wealth of Nations (1776), laid the foundation for economics as a distinct academic discipline and a comprehensive system of thought. Smith introduced key concepts such as the division of labor, the idea of the "invisible hand" guiding free markets, and the importance of rational self-interest and competition in promoting economic prosperity. His work marked a shift away from mercantilism toward classical free-market economic theory

. Although earlier thinkers like Ibn Khaldun had made significant contributions to economic thought centuries before Smith, it is Smith's synthesis and popularization of economic ideas during the Scottish Enlightenment that earned him this title in modern economics

. In summary, Adam Smith is considered the father of economics because of his pioneering role in defining economics as a science, his influential writings that shaped classical economics, and his lasting impact on economic theory and policy