Book contents
- Law and the Invisible Hand
- Law and the Invisible Hand
- Copyright page
- Dedication
- Contents
- About the Cover
- Figures
- About the Author
- Preface
- Acknowledgments
- Guide to Citations by Adam Smith
- 1 Introduction
- 2 Setting the Stage
- 3 Social Organization in the Informal Realm
- 4 Social Organization in the Formal Realm
- 5 Integrating the Informal and Formal in Smith’s Theory
- 6 The Spectator View
- 7 Judgment and Justice
- 8 The Sentiment of Common Interest
- 9 The Impartial Spectator, Homo economicus, and Homo identicus
- 10 Understanding the Four Stages of Progress
- 11 Adam Smith in American Law
- 12 Parting Thoughts
- Bibliography
- Index
11 - Adam Smith in American Law
Published online by Cambridge University Press: 27 September 2021
- Law and the Invisible Hand
- Law and the Invisible Hand
- Copyright page
- Dedication
- Contents
- About the Cover
- Figures
- About the Author
- Preface
- Acknowledgments
- Guide to Citations by Adam Smith
- 1 Introduction
- 2 Setting the Stage
- 3 Social Organization in the Informal Realm
- 4 Social Organization in the Formal Realm
- 5 Integrating the Informal and Formal in Smith’s Theory
- 6 The Spectator View
- 7 Judgment and Justice
- 8 The Sentiment of Common Interest
- 9 The Impartial Spectator, Homo economicus, and Homo identicus
- 10 Understanding the Four Stages of Progress
- 11 Adam Smith in American Law
- 12 Parting Thoughts
- Bibliography
- Index
Summary
In the United States, Adam Smith continues to be cited to in legal articles,1 books,2 and court opinions.3 He is also mentioned frequently in newspapers and magazines.4 Many of these citations are limited to a few well-known quotes from Smith’s work and make reference to the benefits of self-interest, private property, limited government, and the workings of the invisible hand. While this literature is of note for the continuing references made to Smith some 250 years after his death, much of this is superficial, and Smith often appears as little more than a trope for positioning one’s political and economic viewpoint. Among the places where Smith is referenced, most interestingly, are the legal opinions issued by the courts of the United States. Court opinions are not like articles and newspaper columns; they are serious matters that have an impact on the law.
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- Information
- Law and the Invisible HandA Theory of Adam Smith's Jurisprudence, pp. 119 - 142Publisher: Cambridge University PressPrint publication year: 2021