
Smith’s Lectures on Jurisprudence, originally delivered at the University of Glasgow in 1762–1763, present his “theory of the rules by which civil government ought to be directed.” The chief purpose of government, according to Smith, is to preserve justice; and “the object of justice is security from injury.” The state must protect the individual’s right to his person, property, reputation, and social relations. 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 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.
Author

For other authors of this name, see Adam Smith. Wealth of Nations (1776) of Scottish political economist and philosopher Adam Smith laid the foundations of classical free-market theory. Despite the unknown exact date, authorities recorded his baptism on 16 June 1723 at Kirkcaldy. This pioneer among the key figures of the Enlightenment authored The Theory of Moral Sentiments . People consider the first modern work of economics as his magnum opus and widely cite this father. https://en.wikipedia.org/wiki/Adam\_Smith