What Is Mercantilism?
A modern encyclopedia calls it economic nationalism for the purpose of building a wealthy and powerful state; it dominated Western Europe from the 16th to the late 18th century.
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1.What is mercantilism?
A modern encyclopedia calls it economic nationalism for the purpose of building a wealthy and powerful state; it dominated Western Europe from the 16th to the late 18th century.
2.What is the trade balance?
Sell more than you buy and you have a surplus; buy more than you sell and you have a deficit.
3.What did Mun write in 1664?
England's Treasure by Forraign Trade gave the rule of selling to strangers yearly more than you consume of theirs.
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Sources (6)
- Thomas Mun, England's Treasure by Forraign Trade (London 1664), Modern History Sourcebook (Fordham University)
- Laura LaHaye, Mercantilism, Concise Encyclopedia of Economics (Econlib)
- Jean-Baptiste Colbert (Wikipedia, englisch)
- Adam Smith, An Inquiry into the Nature and Causes of the Wealth of Nations (1776), Book IV, Chapter II (Econlib, Cannan-Ausgabe)
- David Hume, Of the Balance of Trade, in Political Discourses (1752), Econlib/Liberty Fund
- Eigene Rechnung: synthetisches Beispiel zweier erfundener Laender (Handelsbilanz)
Education only. Not financial advice.