Publication
The Korean Journal of Economic Studies
Adam Smith’s Law and Economics with Reference to Justice and Economic Efficiency
Kwangsu KimYear 2009Vol. 57No. 1
Abstract
Recently a relationship between justice and economic efficiency has been oneof interesting issues in law and economics. It has also been noted that inAdam Smith’s law and economics, economic efficiency is achieved when justiceis sought. This paper tries to shed light upon the close linkage between justiceand economic efficiency, in terms of examining some specific cases of privatelaw, family law and public law in the Lectures on Jurisprudence and theWealth of Nations. The representative cases made in this paper constituteempirical evidence for the theme that a matter of justice ultimately reinforceseconomic efficiency in Smith’s system of moral philosophy.