Adam Smith, the foremost classical economist, in his monumental work’ An Enquiry into the Nature and Causes of the Wealth of Nations

Adam Smith, the foremost classical economist, in his monumental work’ An Enquiry into the Nature and Causes of the Wealth of Nations’, published in 1776. regarded every person as the best judge of his own interest who should be left to pursue his own advantage. According to him, each individual is led by an ‘invisible hand’ in pursuing his/her interest.