the father of modern economic is
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Answer:
Hello!
The answer you are looking for is “Adam Smith”.
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 an invisible hand—the tendency of free markets to regulate themselves by means of competition, supply and demand, and self-interest.
Smith is also known for his theory of compensating wage differentials, meaning that dangerous or undesirable jobs tend to pay higher wages to attract workers to these positions.
But he is most famous for his 1776 book: "An Inquiry into the Nature and Causes of the Wealth of Nations."
The recorded history of Smith's life begins on June 5, 1723, at his baptism in Scotland; however, his exact birthdate is undocumented.
Smith is most famous for his 1776-piece, "The Wealth of Nations," but his first major treatise, "The Theory of Moral Sentiments," was released in 1759 and many of its ideas are still practiced today.
Smith changed the import/export business, created the concept of what is now known as the gross domestic product (GDP).
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