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# Economic System Selection

## Definition

The process by which nations and societies choose between different economic arrangements based on their circumstances, objectives, and understanding of economic principles. This selection determines the fundamental character of a nation's economic development.

## Source Chapter

Book IV, Chapter 0

## Context

Smith's discussion of different systems for different ages and nations implies the concept of system selection, suggesting that nations must choose appropriate economic arrangements based on their specific circumstances.

## Economic Domain

General Theory

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