00:02
So here we have the talk about adam smith, right? adam smith is generally famous as the father of modern economics.
00:09
And he is most famous for wrote the wealth of nations, or what is abbreviated to the wealth of nations in 1776, right? he is really a scottish philosopher, but became interested in economics.
00:30
How people did business and transact it with each other and dealt with each other in a commercial manner on a day -to -day basis.
00:37
So we have to go through each of these things, right? is classical economist? kind of obviously, yes, right? he is almost the definition of a classical economist, right? a classical economist is literally referring to the type of people, right? the branch of econ following smith, right? he started classical economics.
01:04
He is pretty much him and the work he inspired is pretty much the definition of what a classical economist is, right? b, wealth of nations.
01:13
He absolutely wrote wealth of nations.
01:14
This is his magnum opus.
01:17
It is the first book in economics...