Philosopher adam smith is known as the

a: father of communism
b: father of capitalism
c: father of socialism
d: father of utopianism

B: Father of capitalism

Adam Smith wrote The Wealth of Nations which detailed the philosophy of capitalism.

Adam Smith wrote the first book and research on political ideas of economic policy. He suggested that a country's wealth should not be based on gold stores but rather the import and export of goods. He suggested the economy should be based on individual self-interest. He also argued the government should have little to do with the regulation and control of the economy.

Philosopher Adam Smith is known as the, ‘Father of capitalism’.  

Further Explanation:-

Adam Smith was the one who wrote bible on Capitalizam and he was renouned Economist and Philosopher.  He was a pioneer of political economy and was one of the main figures during the period of Scottish Enlightenment. He was also known as Father of Economics. Foundation of economic theory in classical was writted by him. He was controversial on his own day and his writing styles were generally satirized by many writers. His personal views were not much known and whatever is known about him is from his published articles because his personal papers were destroyed after his death as he requested this to be done.  He never married and always shared a close relation with his mother. In his published work, He studies and examines the moral thinking of his time and also suggests that reason that conscience arises is because of dynamic and social relationships of people. His goal during writing for his work was to give the explanation about a person’s ability to form a moral judgment as he said that the people begin their life with no moral sentiments at all. philosopher Adam Smith is also known as the, ‘Father of capitalism’.  

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Answer Details:

Grade – High School

Subject – Economy

Chapter – Adam Smith

Keywords – Adam Smith, Economy, Capitalism, Philosopher, Conscience, Economic Theory, Writers, Personal, Foundation, Sentiments, Death, Work.

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