668 B
668 B
Colony Economic System Design
Definition
The intentional structuring of colonial economic arrangements by metropolitan authorities, which Smith criticizes as often being based on mercantilist principles that do not reflect the actual economic conditions of colonies.
Source Chapter
Book V, Chapter 3
Context
Smith critiques the design of colonial economic systems by British authorities, arguing that they are based on outdated mercantilist principles rather than sound economic reasoning.
Economic Domain
Regulation