Who is known as the Father of Economics?

Adam Smith is known as the Father of Economics primarily due to his seminal work, "The Wealth of Nations," published in 1776. In this foundational text, Smith laid out the principles of free market economics and discussed concepts such as the division of labor, the importance of self-interest in economic activities, and the idea of an "invisible hand" guiding market forces. His insights helped to establish economics as a distinct field of study, focusing on how goods and services are produced and distributed within a society.

The other individuals mentioned have made significant contributions in their respective fields, but not specifically to economics in the same way as Smith. Frederick Winslow Taylor is known for his work in management theory and scientific management, Max Weber is recognized for his contributions to sociology and organizational theory, and Henri Fayol is known for his work in management and administrative theory. While their ideas are influential, they do not have the same foundational role in economics as Adam Smith does.