Adam Smith, Collusion and 'Right' at the Supreme Court

7 Pages Posted: 23 Oct 2007

See all articles by David M. Levy

David M. Levy

George Mason University - Center for Study of Public Choice

Sandra J. Peart

University of Richmond - Jepson School of Leadership Studies

Abstract

Adam Smith acquired yet another fifteen minutes of fame when his views on collusion were injected into the Supreme Court's ruling in Bell Atlantic v. Twombly. We consider Smith's views on the small group solidarity. Motivation by a desire for approbation provides Smith's explanation for the existence of well-functioning groups. The question, however, is what happens when the groups are in conflict. Smith's answer, supposing that groups constrain themselves by considerations of justice, was to side with the larger group. In this supposition and conclusion, Smith was followed by utilitarians in the classical period.

Keywords: Adam Smith, Supreme Court, monopoly, approbation

JEL Classification: B12, B31, K21, L12

Suggested Citation

Levy, David M. and Peart, Sandra J., Adam Smith, Collusion and 'Right' at the Supreme Court. Supreme Court Economic Review, Vol. 16, June 2007, Available at SSRN: https://ssrn.com/abstract=1022829

David M. Levy (Contact Author)

George Mason University - Center for Study of Public Choice ( email )

MSN 1d3 Carow Hall
4400 University
Fairfax, VA 22030
United States

Sandra J. Peart

University of Richmond - Jepson School of Leadership Studies ( email )

Jepson Hall
Richmond, VA 23173
United States

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