What is the nature of economics according to Adam Smith?

From Book 4 of the Wealth of Nations: > Political economy, as a science of a legislator, proposes: 1. To provide a plentiful revenue or subsistence for the people by enabling them to provide it for themselves 2. read more

From Book 4 of the Wealth of Nations:Political economy, as a science of a legislator, proposes: 1. To provide a plentiful revenue or subsistence for the people by enabling them to provide it for themselves 2. read more

Adam Smith was an 18th-century philosopher renowned as the father of modern economics, and a major proponent of laissez-faire economic policies. In his first book, "The Theory of Moral Sentiments," Smith proposed the idea of the invisible hand—the tendency of free markets to regulate themselves by means of competition, supply and demand, and self-interest. read more