Economists
ADAM SMITH •Adam Smith (baptised June 5, 1723 / June – July 17, 1790) * a Scottish moral philosopher and a pioneering political economist. * He is a major contributor to the modern perception of economics. * One of the key figures of the intellectual movement known as the Scottish Enlightenment, * Father of Modern Economics * “ An Inquiry Into the Nature and Causes of the Wealth of Nations” * Free trade * capitalism * invisible hand * laissez – faire doctrine In economics, the invisible hand , also known as invisible hand of the market , is the term economists use to describe the self-regulating nature of the marketplace. This is a metaphor first coined by Smith in The Theory of Moral Sentiments , and used a total of three times in his writings . For Smith, the invisible hand was created by the conjunction of the forces of self-interest , competition , and supply and demand , which he noted as being capable of alloc