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# Colonial Land Abundance Effects

## Definition

The economic consequences of plentiful available land in colonies, including low land costs, high wages due to labor scarcity, widespread land ownership opportunities, and the prioritization of agricultural development. These effects create fundamentally different economic conditions than in settled countries.

## Source Chapter

Book IV, Chapter 7

## Context

Smith emphasizes land abundance as the primary factor distinguishing colonial economies from those of older countries. He argues that this abundance creates conditions for rapid development that monopoly restrictions artificially constrain, preventing colonies from realizing their full economic potential.

## Economic Domain

Production

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