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Smith changed the import or export
business and created the concept of what is now known as
the Gross Domestic Product [G.D.P]. Smith was also
known as the "Father of Capitalism” because he discussed
charity and human ethics extensively in a book.
Smith's ideas became the foundation of
classical school of economics and have him a place in the
history as the “Father of Economics “Smith pioneered
such as the Invisible hand and the division of labor, now
quintessential economic theories. Smith died on July 19,
1790 at age 67 but the ideas he promoted live on in the
form of contemporary economic research and institutes
like the Adam Smith Institutes.
