What is Adam Smith economy system?

Adam Smith's economic system, often referred to as classical economics, emphasizes the importance of free markets and the role of self-interest in promoting economic prosperity. In his seminal work, "The Wealth of Nations," Smith argued that individuals pursuing their own interests inadvertently contribute to the overall good of society through what he called the "invisible hand." He advocated for minimal government intervention, allowing supply and demand to dictate prices and allocate resources efficiently. This foundational idea laid the groundwork for modern capitalism and market economies.