862 B
862 B
Uncultivated Land Availability
Definition
The economic condition in colonies where land remains available for acquisition on easy terms, creating incentives for artificers to abandon manufacturing for agriculture when they acquire sufficient capital. This availability fundamentally alters occupational choices and economic development patterns compared to societies where all land is already cultivated.
Source Chapter
Book III, Chapter 1
Context
Smith uses this colonial condition to illustrate how resource availability shapes economic development, explaining why manufacturing for distant sale develops slowly in new territories despite the presence of skilled labor and capital.
Economic Domain
Production