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Look Inside Law and the Invisible Hand

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

$41.99 (P)

Author: Robin Paul Malloy, Syracuse University, New York

Date Published: November 2021
availability: Available
format: Paperback
isbn: 9781108812702

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About the Authors

A contemporary interpretation of Adam Smith's work on jurisprudence, revealing Smith's belief that progress emerges from cooperation and a commitment to justice. In Smith's theory, the tension between self–interest and the interests of others is mediated by law, so that the common interest of the community can be promoted. Moreover, Smith informs us that successful societies do at least three things well. They promote the common interest, advance justice through the rule of law, and they facilitate our natural desire to truck, barter, and exchange. In this process, law functions as an invisible force that holds society together and keeps it operating smoothly and productively. Law enhances social cooperation, facilitates trade, and extends the market. In these ways, law functions like Adam Smith's invisible hand, guiding and facilitating the progress of humankind.
- A new, contemporary, and informative analysis of the work of Adam Smith
- Advances Smith's theory of jurisprudence and demonstrates its connection to his work on economics and social progress
- Develops new insights on Adam Smith that go beyond and counter stereotypical depictions of Smith as a promotor of greed and self-interest
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Reviews & endorsements
'… the book is, as a whole, both a rigorous study of the work of Adam Smith and an ambitious experiment to refect, in the thought of a master of the past, tensions and contradictions of the present.' Luca Arnaudo, History of Economic Ideas

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Product details
- Date Published: November 2021
- format: Paperback
- isbn: 9781108812702
- length: 225 pages
- dimensions: 228 x 152 x 12 mm
- weight: 0.31kg
- availability: Available
Table of Contents
1. Introduction: law's invisible hand
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.
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Author
Robin Paul Malloy, Syracuse University, New York
Robin Paul Malloy is the E. I. White Chair and Distinguished Professor of Law, and a Kauffman Professor of Entrepreneurship and Innovation at Syracuse University College of Law. He is a leading expert on market jurisprudence, property, real estate development, and land use regulation. Malloy has published numerous books and scholarly articles. This is his fourth book with Cambridge University Press.