Trivia: What famous thinker is known as the “father of economics”?
Adam Smith
Thomas Jefferson
Benjamin Franklin
David Hume
The correct answer is Adam Smith
So why is this answer correct? : Born in Scotland in 1723, Adam Smith is a social philosopher whose famous work, “An Inquiry Into the Nature and Causes of the Wealth of Nations,” constitutes the origin of modern economic theory. Smith explored the concepts of free markets, capitalism, and supply and demand, and his three laws of economics still underpin financial systems today.