706 B
706 B
Economic System Outcomes
Definition
The actual results and consequences produced by different economic arrangements, including their effects on wealth generation, distribution, and the achievement of political economy's objectives of enriching both the people and the sovereign.
Source Chapter
Book IV, Chapter 0
Context
Smith's analysis of different systems implies the importance of understanding their outcomes and effects, suggesting that the evaluation of economic arrangements must consider their practical results.
Economic Domain
General Theory