Question

Who is the Father of Economics?
a. Max Muller
b. Adam Smith
c. Karl Marx
d. Paul A Samuelson

Answer 1

It is Adam Smith who is regarded as the Father of Economics.

He was an 18th century philosopher and a major proponent of the laissez faire economics policy.

In his book the theory of moral sentiments he proposed the idea of an invisible hand where there is a tendency of free market to regulate themselves through the means of competition, supply and demand and of course self-interest.

He is also known for his theory of compensating wage differential meaning that the undesirable and dangerous jobs tend to pay more amount of wages to attract more workers.