The statue of Adam Smith located at the entrance of the Vienna Business School in the first district of Vienna was erected to commemorate this Scottish moral philosopher and philosopher of the Enlightenment era. Adam Smith was born in 1723 and passed away in 1790. The main work is' The Wealth of Nations', first published in 1776, which achieved great success and was quickly translated into multiple languages. Adam Smith is considered the father of modern economics, and his ideas have had a profound impact on later economists and economic policies. He emphasized the importance of market mechanisms and free competition, believing that these are key factors in improving production efficiency and economic growth.