Mercantilist

Brief History
1. signifies merchant or trade
  1. dominant school of economics
    1. encouraged European wars,fueled European imperialisme
      1. did not believe there were mutual gains from trade
        Accumulated wealth only from gold and silver
Major Tenets
1. Bullionism
  1. Nationalism
    1. Restrict import, focus export
      1. colonization
        oppose restriction on movement of goods
        Strong government
        Large population
Famous Scholars
1. Thomas Mun
  1. Gerard Malynes
    1. Charles Davennant
      1. Jean Colbert
        Sir William Petty
        Developed efficient methods to survey the land that was to be confiscated and given to Cromwell's soldiers.
        favored freer foreign trade
        create a favorable balance of trade and increase France's colonial holdings
        believed that the strength of a state depends on its finances
      2. kingdom can reap the benefit of the entire value of an exported product if it is made from domestic
    2. advanced the Idea that regulation of goods by government was necessary to ensure high-quality exports
  2. A Discourse of Trade from England unto the East Indies
Criticism
1. Failed to understand the notions of comparative advantage and the benefits of trade.
  1. Impossibility of the constant positive balance of trade.
    1. a form of rent seeking
      1. bullion was just the same as any other commodity,

Zusammenfassung der Ressource

	Erstellt von Yasmin Bani vor mehr als 9 Jahre