 The Scottish economist and philosopher Adam Smith was likely born on, or near, this day in 1723. This founding father of modern economics gave us an entirely new understanding of how society works. His magnum opus, an inquiry into the nature and causes of the wealth of nations, influenced thinkers as diverse as Thomas Jefferson, Alexander Hamilton, Carl Marx, John Maynard Keynes, and Milton Friedman. While he's best known for concepts like the invisible hand, Adam Smith was a distinguished moral philosopher as well. Happy birthday, Adam Smith!