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..