Adam Smith (1723- 1790), the father or precursor of capitalism and economics as an academic discipline.

Adam Smith (1723- 1790), Scottish and the father or precursor of economics as an academic discipline and capitalism. He was probably the first economist and political-economy philosopher. Adam Smith wrote the classic book An Inquiry into the Nature and Causes of the Wealth of Nations (1776), which is considered the first modern book of economics.

His notable work developed different concepts regarding the division of labour, advantages of international trade, the role of the states and how rational self-interest and competition can lead to economic prosperity.