Adam Smith is widely regarded as the "Father of Modern Economics," primarily due to his influential work, "The Wealth of Nations," published in 1776. In this seminal text, he introduced key concepts such as the division of labor, free markets, and the "invisible hand" that guides economic activity. Smith argued that individuals pursuing their self-interest could unintentionally benefit society as a whole. His ideas laid the foundation for classical economics and capitalism, emphasizing the importance of competition and limited government intervention in economic affairs, shaping economic thought for centuries to come.