750 B
750 B
Economic System Framework
Definition
The conceptual structure and theoretical foundation that organizes understanding of economic arrangements, including the principles, objectives, and mechanisms that define different systems and their relationships to each other and to broader economic and social contexts.
Source Chapter
Book IV, Chapter 0
Context
Smith establishes a framework for understanding political economy through his identification of its objectives and the distinction between different systems, providing a conceptual structure for economic analysis.
Economic Domain
General Theory