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Father of Economics Adam Smith

             Adam smith is one of the greatest economists throughout history, if he wasn't the greatest. He was famous for his writings in the area of the political economy, although by his time economics was not yet identified or known. Adam smith wrote a couple of books that are considered the base and the infrastructure of the world of economics. The two books were "The Theory of Moral Sentiments" and "The Wealth of Nations". 1 However, the two books had through their pages very essential theories and methods that formed the base line for the term "Economics". Although Adam Smith gave great theories to the world, and he was recognized as being the father of economics, however, many of his theories were criticized and interpreted differently by economists, each one according to the school he follows. .
             "The Theory of Moral Sentiments" discussed one of the most important and magnificent ideologies of economics, that ideology was the Invisible Hand. But what is the invisible hand? It was said in the book written by Heilbroner that the "Invisible hand is a term that describes the manner in which a free market economy is kept on an even course despite the absence of any steersman" and absence of that ideology will result that neither morality nor social order would be possible. 2 Moreover, Heilbroner did not just give us one definition for the invisible hand, but he gave us another one that clarifies and emphasis the idea of the theory more. He said in his book "The Essential Adam Smith" that the Invisible Hand "is an indirect intervention of the divinity in to the mechanisms of social life. 3 What Heilbroner was trying to highlight through his two definitions, is that man is unable to predict and foresee the results of his actions. However, he will try to achieve his goals in spite of his weakness. In other words, it describes the human's passion in order to obtain wealth. 4 Then he finishes his understanding about the theory of the Invisible Hand by illustrating that it warmed us up for the flow of capitalism that Marx talked about in his book" The Communist Manifesto".

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