Law and the Invisible Hand: A Theory of Adam Smith's Jurisprudence

A contemporary interpretation of Adam Smith's work on jurisprudence emphasizes the importance of cooperation and justice for progress. Law promotes the common interest, advances justice, and facilitates trade, acting as an invisible force that guides and facilitates humankind's progress.

Format: Hardback
Length: 225 pages
Publication date: 18 November 2021
Publisher: Cambridge University Press

A fresh perspective on Adam Smith's work on jurisprudence sheds light on his belief that progress stems from cooperation and a dedication to justice. According to Smith's theory, the interplay between self-interest and the interests of others is mediated by law, fostering the common good of the community. Moreover, Smith enlightens us that successful societies excel in at least three key areas. They prioritize the common interest, promote justice through the rule of law, and facilitate our inherent inclination for trading, bartering, and exchanging. Through this process, law acts as an unseen force that binds society together, ensuring its smooth and productive operation.

Law plays a pivotal role in enhancing social cooperation, facilitating trade, and expanding the market. In these ways, law functions akin to Adam Smith's invisible hand, guiding and facilitating the advancement of humankind. By understanding and upholding the principles of law, societies can foster a harmonious and prosperous environment for all individuals.

Weight: 438g
Dimension: 158 x 236 x 18 (mm)
ISBN-13: 9781108836630
Edition number: New ed