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# Economic System Benchmark

## Definition

The reference points and measures used to evaluate and compare the performance of economic arrangements, including the standards against which different systems are assessed in terms of their ability to achieve political economy's objectives.

## Source Chapter

Book IV, Chapter 0

## Context

Smith's discussion of different systems and their relative merits implies the importance of benchmarks in economic arrangements and their role in evaluating and comparing different approaches.

## Economic Domain

General Theory

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