20 lines
765 B
Markdown
20 lines
765 B
Markdown
# Economic Development Sequence
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## Definition
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The historical pattern in which economic development occurs first in areas with the best market access through water-carriage, then spreads to regions with inland navigation, and finally reaches areas dependent solely on land-carriage. This sequence reflects the role of transportation costs in determining development patterns.
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## Source Chapter
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Book I, Chapter 3
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## Context
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Smith describes how improvements in art and industry begin where water-carriage opens the whole world as a market, are later in extending themselves to inland parts of the country, and only reach areas dependent on land-carriage much later, establishing a clear sequence of economic development.
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## Economic Domain
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General Theory
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