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
9 - The Impartial Spectator, Homo economicus, and Homo identicus
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 Adam Smith’s theory of jurisprudence, justice involves an interpretation of what is fair and reasonable in a given context and situation. Such judgments are rooted in history and in an understanding of human relationships from the earliest of times. In making judgments about ourselves and others we must interpret the situation confronting us with reference to a referent that provides us with an interpretive “point of view” or lens, and a set of organizing principles. In Smith’s theory of jurisprudence, a generalizable and universal referent is embodied in the metaphorical device of the impartial spectator. There are, however, contemporary challenges to the spectator view.
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- Law and the Invisible HandA Theory of Adam Smith's Jurisprudence, pp. 87 - 103Publisher: Cambridge University PressPrint publication year: 2021