Added labor and capital to the Physiocratic idea of ​​land as factors of production and major contributors to a nation's wealth. The laissez-faire philosophy espoused by Smith was quite radical in both political and economic doctrine. The concept that the individual, by pursuing his own desired ends, would thus achieve the best outcomes for society as a whole was new. According to Smith and other proponents of this theory, the government may have had a vital role in enforcing laws and contracts, but otherwise it should be left to the “invisible hand” to regulate the market. (Encyclopedia Brittanica,