750 B
750 B
Economic Development Sequencing
Definition
The ordered progression through which nations advance economically, typically moving from agricultural foundations to commercial development. This sequencing reflects the natural order of economic advancement and the prerequisites for different stages of development.
Source Chapter
Book IV, Chapter 0
Context
Smith's distinction between ancient and modern systems implies a developmental sequence in economic advancement, suggesting that nations typically progress through different economic arrangements as they develop.
Economic Domain
General Theory