719 B
719 B
Economic System Adoption Factor
Definition
The conditions, circumstances, and influences that determine whether and how economic arrangements are accepted and implemented within a society, including cultural, political, economic, and social factors that affect the adoption of new systems.
Source Chapter
Book IV, Chapter 0
Context
Smith's discussion of different systems in different contexts implies the importance of adoption factors in determining which economic arrangements are implemented and how successfully they are adopted.
Economic Domain
General Theory