698 B
698 B
Economic System Resistance Factors
Definition
The various obstacles that prevent the adoption of more efficient economic arrangements, including entrenched interests, ideological commitments, and institutional inertia. Smith identifies these factors as key barriers to economic reform.
Source Chapter
Book IV, Chapter 6
Context
Smith analyzes the resistance to economic reform, identifying various factors that prevent the adoption of more efficient market-based arrangements despite their demonstrated superiority.
Economic Domain
General Theory