Within the Sixth Adam Smith Conference in Moscow Dr Alexander Vereshchagin, The Institute of Precedent project leader, has delivered a paper on the subject of judicial creativity, justice and liberty. Whether judges are good enough at making legal rules? Do they have any advantges in this capacity vis-a-vis the legislators? Can we approve their making decisions contra legem, that is, deciding against the plain letter of the law? Does the judicial creativity always serve the ideals of freedom? Can it be, on the contrary, antagonistic to them? These are the main issues that were touched upon in his speech.