Building on his Theory of Moral Sentiments, Smith argues that the state must act as an impartial spectator, judging when an individual has been injured. The state must then design and apply civil and criminal laws to prevent further injuries and to punish transgressors. Laws are also the means by which the state promotes public prosperity. Thus, regulations concerning trade, commerce, and production must be crafted so as to encourage rather than interfere with our productive capacities.
Building on his Theory of Moral Sentiments, Smith argues that the state must act as an impartial spectator, judging when an individual has been injured. The state must then design and apply civil and criminal laws to prevent further injuries and to punish transgressors. Laws are also the means by which the state promotes public prosperity. Thus, regulations concerning trade, commerce, and production must be crafted so as to encourage rather than interfere with our productive capacities.

Lectures on Jurisprudence
654
Lectures on Jurisprudence
654Hardcover(Glasgow Edition)
Product Details
ISBN-13: | 9780198281887 |
---|---|
Publisher: | Oxford University Press |
Publication date: | 05/11/1978 |
Series: | Glasgow Edition of the Works of Adam Smith |
Edition description: | Glasgow Edition |
Pages: | 654 |
Product dimensions: | 9.50(w) x 6.46(h) x 1.61(d) |
Lexile: | 1390L (what's this?) |
Age Range: | 18 - 10 Years |