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# Economic System Experience Accumulation

## Definition

The gradual building of practical knowledge and understanding about economic arrangements through repeated application and observation, including the ways in which societies learn from their experiences with different systems and improve their economic practice over time.

## Source Chapter

Book IV, Chapter 0

## Context

Smith's discussion of different systems and their development implies the importance of experience accumulation in economic arrangements and its role in advancing economic understanding and practice.

## Economic Domain

General Theory

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