Adam Smith and the liberal tradition in international relations

Abstract

The name of Adam Smith is most commonly associated with the notion of a natural ‘harmony of interests’ between individuals in the market, whereby the ‘invisible hand’ of competition turns self-regarding behaviour into aggregate social benefits. Joseph Cropsey echoes this view in suggesting that ‘Smith is of interest for his share i n the deflection of political philosophy toward economics and for his famous elaboration of the principles of free enterprise liberal capitalism’. Smith is often seen as standing in a long line of British political philosophers stretching back to Hobbes and Locke and on to Bentham and ultimately John Stuart Mill, his principal contribution to the liberal tradition being his role as the great spokesman of laissez-faire and the minimalist state.