Articles
Adam Smith’s Law and Economics with Reference to Justice and Economic Efficiency
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AuthorKwangsu Kim
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Year2009
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VolumeVol.57
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NumberNo.1
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Recently a relationship between justice and economic efficiency has been one
of interesting issues in law and economics. It has also been noted that in
Adam Smith’s law and economics, economic efficiency is achieved when justice
is sought. This paper tries to shed light upon the close linkage between justice
and economic efficiency, in terms of examining some specific cases of private
law, family law and public law in the Lectures on Jurisprudence and the
Wealth of Nations. The representative cases made in this paper constitute
empirical evidence for the theme that a matter of justice ultimately reinforces
economic efficiency in Smith’s system of moral philosophy. -
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