697 B
697 B
Economic System Diffusion Mechanism
Definition
The processes and channels through which economic arrangements spread from one context to another, including the ways in which successful systems and practices are communicated, adopted, and adapted by different societies and contexts.
Source Chapter
Book IV, Chapter 0
Context
Smith's discussion of different systems and their development implies the importance of understanding how economic arrangements diffuse and spread across different contexts and societies.
Economic Domain
General Theory