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# Economic System Adaptability

## Definition

The capacity of economic arrangements to adjust and respond to changing circumstances, technological developments, and evolving understanding, enabling them to remain effective and relevant as conditions change over time.

## Source Chapter

Book IV, Chapter 0

## Context

Smith's recognition that different systems are appropriate for different ages and nations implies the importance of adaptability in economic arrangements and their ability to evolve with changing circumstances.

## Economic Domain

General Theory

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