Mercantilism - Knowledge (XXG)

1499: 125: 1612:

intervention from the crown put crippling laws for the protection of Spanish goods and services. Mercantilist protectionist policy in Spain caused the long-run failure of the Castilian textile industry as the efficiency severely dropped off with each passing year due to the production being held at a specific level. Spain's heavily protected industries led to famines as much of its agricultural land was required to be used for sheep instead of grain. Much of their grain was imported from the Baltic region of Europe which caused a shortage of food in the inner regions of Spain. Spain limiting the trade of their colonies is one of the causes that led to the

31: 1511:

barriers, regulations, and subsidies to domestic industries in order to maximize exports from and minimize imports to the realm. The government had to fight smuggling, which became a favourite American technique in the 18th century to circumvent the restrictions on trading with the French, Spanish, or Dutch. The goal of mercantilism was to run trade surpluses to benefit the government. The government took its share through duties and taxes, with the remainder going to merchants in Britain. The government spent much of its revenue on the

1449:. It sought to derive the maximum material benefit from the colony, for the homeland, with a minimum of colonial investment in the colony itself. The ideology was embodied in New France through the establishment under Royal Charter of a number of corporate trading monopolies including La Compagnie des Marchands, which operated from 1613 to 1621, and the Compagnie de Montmorency, from that date until 1627. It was in turn replaced by La 3028:. Keynes reiterated that the doctrines advocated for by mercantilism aided the improvement of both the domestic and foreign outlay—domestic because the policies lowered the domestic rate of interest, and investment by foreigners by tending to create a favorable balance of trade. Keynes and other economists of the 20th century also realized that the balance of payments is an important concern. Keynes also supported 1397: 2663: 1271:, in which any gain by one party required a loss by another. Thus, any system of policies that benefited one group would by definition harm the other, and there was no possibility of economics being used to maximize the commonwealth, or common good. Mercantilists' writings were also generally created to rationalize particular practices rather than as investigations into the best policies. 1427:. Under Colbert, the French government became deeply involved in the economy in order to increase exports. Protectionist policies were enacted that limited imports and favored exports. Industries were organized into guilds and monopolies, and production was regulated by the state through a series of more than one thousand directives outlining how different products should be produced. 2675: 1121: 2961:, who in 1699 wrote, "Gold and Silver are indeed the Measures of Trade, but that the Spring and Original of it, in all nations is the Natural or Artificial Product of the Country; that is to say, what this Land or what this Labour and Industry Produces." The critique that mercantilism was a form of rent seeking has also seen criticism, as scholars such as 1560: 2935: 2953:

its value would slowly rise. Eventually, it would no longer be cost-effective to export goods from the high-price country to the low-price country, and the balance of trade would reverse. Mercantilists fundamentally misunderstood this, long arguing that an increase in the money supply simply meant that everyone gets richer.

1262:

would later do for classical economics. Rather, each mercantilist writer tended to focus on a single area of the economy. Only later did non-mercantilist scholars integrate these "diverse" ideas into what they called mercantilism. Some scholars thus reject the idea of mercantilism completely, arguing

270:

was based on the principle that the state should rule in the economic realm as it did in the diplomatic, and that the interests of the state as identified by the king were superior to those of merchants and of everyone else. Mercantilist economic policies aimed to build up the state, especially in an

2982:

Scholars are also divided over the cause of mercantilism's end. Those who believe the theory was simply an error hold that its replacement was inevitable as soon as Smith's more accurate ideas were unveiled. Those who feel that mercantilism amounted to rent-seeking hold that it ended only when major

2792:

and modern accounting. This accounting made extremely clear the inflow and outflow of trade, contributing to the close scrutiny given to the balance of trade. New markets and new mines propelled foreign trade to previously inconceivable volumes, resulting in "the great upward movement in prices" and

1697:

In France, the triangular trade method was integral in the continuation of mercantilism throughout the 17th and 18th centuries. In order to maximize exports and minimize imports, France worked on a strict Atlantic route: France, to Africa, to the Americas and then back to France. By bringing African

1667:

of this era, as many nations expended significant effort to conquer new colonies that would be sources of gold (as in Mexico) or sugar (as in the West Indies), as well as becoming exclusive markets. European power spread around the globe, often under the aegis of companies with government-guaranteed

1651:

Mercantilism was the economic version of warfare using economics as a tool for warfare by other means backed up by the state apparatus and was well suited to an era of military warfare. Since the level of world trade was viewed as fixed, it followed that the only way to increase a nation's trade was

2956:

The importance placed on bullion was also a central target, even if many mercantilists had themselves begun to de-emphasize the importance of gold and silver. Adam Smith noted that at the core of the mercantile system was the "popular folly of confusing wealth with money", that bullion was just the

2952:

Hume famously noted the impossibility of the mercantilists' goal of a constant positive balance of trade. As bullion flowed into one country, the supply would increase, and the value of bullion in that state would steadily decline relative to other goods. Conversely, in the state exporting bullion,

1518:

British mercantilist writers were themselves divided on whether domestic controls were necessary. British mercantilism thus mainly took the form of efforts to control trade. A wide array of regulations were put in place to encourage exports and discourage imports. Tariffs were placed on imports and

1164:

Most of the European economists who wrote between 1500 and 1750 are today generally described as mercantilists; this term was initially used solely by critics, such as Mirabeau and Smith, but historians proved quick to adopt it. Originally the standard English term was "mercantile system". The word

1430:

To encourage industry, foreign artisans and craftsmen were imported. Colbert also worked to decrease internal barriers to trade, reducing internal tariffs and building an extensive network of roads and canals. Colbert's policies were quite successful, and France's industrial output and the economy

2760:

merchants and governments developed and enforced mercantilist policies. Merchants benefited greatly from the enforced monopolies, bans on foreign competition, and poverty of the workers. Governments benefited from the high tariffs and payments from the merchants. Whereas later economic ideas were

1510:

With respect to its colonies, British mercantilism meant that the government and the merchants became partners with the goal of increasing political power and private wealth, to the exclusion of other European powers. The government protected its merchants—and kept foreign ones out—through trade

1611:

Spain benefited from mercantilism early on as it brought a large amount of precious metals such as gold and silver into their treasury by way of the new world. In the long run, Spain's economy collapsed as it was unable to adjust to the inflation that came with the large influx of bullion. Heavy

2983:

power shifts occurred. In Britain, mercantilism faded as the Parliament gained the monarch's power to grant monopolies. While the wealthy capitalists who controlled the House of Commons benefited from these monopolies, Parliament found it difficult to implement them because of the high cost of

1575:

The other nations of Europe also embraced mercantilism to varying degrees. The Netherlands, which had become the financial centre of Europe by being its most efficient trader, had little interest in seeing trade restricted and adopted few mercantilist policies. Mercantilism became prominent in

2767:

offers a third explanation for mercantilism. European trade exported bullion to pay for goods from Asia, thus reducing the money supply and putting downward pressure on prices and economic activity. The evidence for this hypothesis is the lack of inflation in the British economy until the

1538:

Mercantilism taught that trade was a zero-sum game, with one country's gain equivalent to a loss sustained by the trading partner. Overall, however, mercantilist policies had a positive impact on Britain, helping to transform the nation into the world's dominant trading power and a

3019:

affirmed that motivating the production process was as significant as encouraging consumption, which benefited the new mercantilism. Keynes also affirmed that in the post-classical period the primary focus on gold and silver supplies (bullion) was rational. During the era before

2957:

same as any other commodity, and that there was no reason to give it special treatment. More recently, scholars have discounted the accuracy of this critique. They believe Mun and Misselden were not making this mistake in the 1620s, and point to their followers Josiah Child and

1330:

Mercantilist ideas were the dominant economic ideology of all of Europe in the early modern period, and most states embraced it to a certain degree. Mercantilism was centred on England and France, and it was in these states that mercantilist policies were most often enacted.

1263:

that it gives "a false unity to disparate events". Smith saw the mercantile system as an enormous conspiracy by manufacturers and merchants against consumers, a view that has led some authors, especially Robert E. Ekelund and Robert D. Tollison, to call mercantilism "a

124: 3100:

which employed economic fallacy to build up a structure of imperial state power, as well as special subsidy and monopolistic privilege to individuals or groups favored by the state. Thus, mercantilism held exports should be encouraged by the government and imports

2775:

A fourth explanation lies in the increasing professionalisation and technification of the wars of the era, which turned the maintenance of adequate reserve funds (in the prospect of war) into a more and more expensive and eventually competitive business.

1211:, were merchants, while many of the writers from other countries were public officials. Beyond mercantilism as a way of understanding the wealth and power of nations, Mun and Misselden are noted for their viewpoints on a wide range of economic matters. 93:, especially on manufactured goods, were almost universally a feature of mercantilist policy. Before it fell into decline, mercantilism was dominant in modernized parts of Europe and some areas in Africa from the 16th to the 19th centuries, a period of 2787:

as the focus of power. Technological changes in shipping and the growth of urban centers led to a rapid increase in international trade. Mercantilism focused on how this trade could best aid the states. Another important change was the introduction of

3010:

Adam Smith criticized the mercantile doctrine that prioritized production in the economy; he maintained that consumption was of prime significance. Additionally, the mercantile system was well liked by the traders as it was what is now referred to as

1207:. Themes also existed in writers from the German historical school from List, as well as followers of the American and British systems of free-trade, thus stretching the system into the 19th century. However, many British writers, including Mun and 1701:

Mercantilism as a weapon has continued to be used by nations through the 21st century by way of modern tariffs as it puts smaller economies in a position to conform to the larger economies goals or risk economic ruin due to an imbalance in trade.

2968:

The first school to completely reject mercantilism was the physiocrats, who developed their theories in France. Their theories also had several important problems, and the replacement of mercantilism did not come until Adam Smith published

1694:, who analyzed mercantilism as having three components: "settler colonialism, capitalist slavery, and economic nationalism," and further noted that slavery was "partly a condition and partly a result of the success of settler colonialism." 3164:

For instance, imagine that Portugal was a more efficient producer of wine than England, yet in England, cloth could be produced more efficiently than it could in Portugal. Thus if Portugal specialized in wine and England in cloth,

3564:, p. 47. "According to Adam Smith, the main architect of the mercantile system of economic thinking was the English writer and tradesman Thomas Mun (1571–1641). His main published writings appear in two short treatises, 1274:

Mercantilist domestic policy was more fragmented than its trade policy. While Adam Smith portrayed mercantilism as supportive of strict controls over the economy, many mercantilists disagreed. The early modern era was one of

1599:

had long been interested in mercantilist policies, but the vast and decentralized nature of their empire made implementing such notions difficult. Some constituent states of the empire did embrace mercantilism, most notably

1431:

grew considerably during this period, as France became the dominant European power. He was less successful in turning France into a major trading power, and Britain and the Dutch Republic remained supreme in this field.

3112:, as they greatly expanded the British merchant fleet and played a central role in turning Britain into the world's naval and economic superpower from the 18th century onward. Some economists thus feel that protecting 213:, 1549: "We must always take heed that we buy no more from strangers than we sell them, for so should we impoverish ourselves and enrich them." The period featured various but often disjointed efforts by the court of 2869:

describes mercantilism as the period of the worldwide development of European commerce, which began in the 15th century with the voyages of Portuguese and Spanish explorers to Africa, Asia, and the New World.

1543:. One domestic policy that had a lasting impact was the conversion of "wastelands" to agricultural use. Mercantilists believed that to maximize a nation's power, all land and resources had to be used to their 182:, yet mercantilist writers emphasize the circulation of money and reject hoarding. Their emphasis on monetary metals accords with current ideas regarding the money supply, such as the stimulative effect of a 2897:

were the founding fathers of anti-mercantilist thought. A number of scholars found important flaws with mercantilism long before Smith developed an ideology that could fully replace it. Critics like Hume,

2804:

and on local exchanges between individuals. Mercantilism was closely aligned with the other theories and ideas that began to replace the medieval worldview. This period saw the adoption of the very

1408:

Mercantilism arose in France in the early 16th century soon after the monarchy had become the dominant force in French politics. In 1539, an important decree banned the import of woolen goods from

3049:, writing within a Keynesian framework, wrote of mercantilism, "With employment less than full and Net National Product suboptimal, all the debunked mercantilist arguments turn out to be valid." 3572:(1664). Adam Smith picked out this last tract – published posthumously after Mun's death, but probably written during the late 1620s – as the archetype of mercantilist texts; its manifesto." 1660:, can be linked directly to mercantilist theories. Most wars had other causes but they reinforced mercantilism by clearly defining the enemy, and justified damage to the enemy's economy. 217:(r. 1558–1603) to develop a naval and merchant fleet capable of challenging the Spanish stranglehold on trade and of expanding the growth of bullion at home. Queen Elizabeth promoted the 2990:

Mercantilist regulations were steadily removed over the course of the 18th century in Britain, and during the 19th century, the British government fully embraced free trade and Smith's

1498: 1322:, which predicted that mankind would outgrow its resources. The idea of mercantilism was to protect the markets as well as maintain agriculture and those who were dependent upon it. 5031: 4454: 2979:. Smith spent a considerable portion of the book rebutting the arguments of the mercantilists, though often these are simplified or exaggerated versions of mercantilist thought. 2915:

also points towards the heart of the anti-mercantilist critique: that the wealth of the world is not fixed, but is created by human labor (represented embryonically by Locke's

1283:; some mercantilists supported these, but others acknowledged the corruption and inefficiency of such systems. Many mercantilists also realized that the inevitable results of 2994:

economics. On the continent, the process was somewhat different. In France, economic control remained in the hands of the royal family, and mercantilism continued until the

167:, which first began to quantify large-scale trade accurately, marked mercantilism's birth as a codified school of economic theories. The Italian economist and mercantilist 3108:

In specific instances, protectionist mercantilist policies also had an important and positive impact on the state that enacted them. Adam Smith, for instance, praised the

1151: 89:

Mercantilism promotes government regulation of a nation's economy for the purpose of augmenting and bolstering state power at the expense of rival national powers. High

1687:

by European powers early in the 17th century, mercantile theory gained a new and wider significance, in which its aim and ideal became both national and imperialistic.

3105:

Rothbard viewed mercantilism not as a coherent economic theory but rather a series of post-hoc rationalizations for various economic policies by interested parties.

2821:. The mercantilist idea of all trade as a zero-sum game, in which each side was trying to best the other in a ruthless competition, was integrated into the works of 2273: 2705: 4450: 1267:

society". To a certain extent, mercantilist doctrine itself made a general theory of economics impossible. Mercantilists viewed the economic system as a

1531:, and mercantilist policies (such as forbidding trade with other European powers and enforcing bans on smuggling) were a major irritant leading to the 5024: 2800:

theorists. The goal of these thinkers was to find an economic system compatible with Christian doctrines of piety and justice. They focused mainly on

1643:(Peter the Great) attempted to pursue mercantilism, but had little success because of Russia's lack of a large merchant class or an industrial base. 1453:, created in 1627 by King Louis XIII, and the Communauté des habitants in 1643. These were the first corporations to operate in what is now Canada. 4921: 2965:

in the 1930s pointed out that merchant mercantilists such as Mun understood that they would not gain by higher prices for English wares abroad.

1419:

Over the rest of the 16th century, further protectionist measures were introduced. The height of French mercantilism is closely associated with

5154: 2723: 1623:

During the economic collapse of the 17th century, Spain had little coherent economic policy, but French mercantilist policies were imported by

1462: 1144: 3498: 4841: 4823: 4805: 4787: 4760: 4623: 4605: 4587: 4566: 4544: 4526: 4508: 4489: 4404: 4353: 4335: 4317: 4294: 4276: 4258: 4024: 3894: 3773: 3481: 3453: 3428: 3238: 1251:

That opportunities be constantly sought for selling a country's surplus manufactures to foreigners, so far as necessary, for gold and silver.

1245:

That where certain imports are indispensable they be obtained at first hand, in exchange for other domestic goods instead of gold and silver.

271:

age of incessant warfare, and theorists charged the state with looking for ways to strengthen the economy and to weaken foreign adversaries.

67: 202:

supplanted the heavy emphasis on money, accompanied by a shift in focus from the capacity to carry on wars to promoting general prosperity.

5463: 5017: 3140: 55:

that is designed to maximize the exports and minimize the imports for an economy. In other words, it seeks to maximize the accumulation of

229: 1698:

slaves to labor in the New World, their labor value increased, and France capitalized upon the market resources produced by slave labor.

1191:

Mercantilist literature also extended beyond England. Italy and France produced noted writers of mercantilist themes, including Italy's

1233:

That all raw materials found in a country be used in domestic manufacture, since finished goods have a higher value than raw materials.

5433: 579: 2843:'s work in 17th-century France came to exemplify classical mercantilism. In the English-speaking world, its ideas were criticized by 2756:, portrays mercantilism not as a mistake, but rather as the best possible system for those who developed it. This school argues that 1172:

The bulk of what is commonly called "mercantilist literature" appeared in the 1620s in Great Britain. Smith saw the English merchant

2200: 1137: 514: 30: 5498: 2698: 2789: 3292: 5169: 2999: 680: 263: 4871: 1628: 1450: 3039:. The similarities between Keynesianism (and its successor ideas) and mercantilism have sometimes led critics to call them 1483:

being another major proponent. In Britain, government control over the domestic economy was far less extensive than on the

5488: 5283: 5278: 5194: 5132: 2464: 2122: 1632: 1125: 1020: 990: 740: 730: 2726:(1715–1789) had used "mercantilism" earlier. Mercantilism functioned as the economic counterpart of the older version of 5438: 5391: 5059: 4439:

The rise of the European economy: an economic history of continental Europe from the fifteenth to the eighteenth century

4392: 2514: 2504: 1378: 1180:(1664), which Smith considered the archetype or manifesto of the movement. Perhaps the last major mercantilist work was 1050: 109: 2761:

often developed by academics and philosophers, almost all mercantilist writers were merchants or government officials.

5493: 5408: 5381: 5268: 5199: 5122: 5040: 4914: 2911: 2691: 2210: 2147: 2080: 2058: 1258:

Other than Von Hornick, there were no mercantilist writers presenting an overarching scheme for the ideal economy, as

1215: 1491:

and the steadily increasing power of Parliament. Government-controlled monopolies were common, especially before the

3326: 5413: 5401: 2519: 2035: 1440: 97:. Some commentators argue that it is still practised in the economies of industrializing countries, in the form of 4501:

The Unbound Prometheus: Technological Change and Industrial Development in Western Europe from 1750 to the Present

3096:

Mercantilism, which reached its height in the Europe of the seventeenth and eighteenth centuries, was a system of

4460: 3522: 2293: 1980: 1520: 1515:, which both protected the colonies of Britain but was vital in capturing the colonies of other European powers. 973: 901: 322: 218: 71: 1423:, finance minister for 22 years in the 17th century, to the extent that French mercantilism is sometimes called 5564: 5418: 5345: 5335: 5273: 5054: 3113: 2899: 2567: 2263: 2110: 1949: 1923: 1845: 1790: 1669: 509: 255: 105: 98: 5523: 5443: 5340: 5330: 5318: 5308: 5081: 4371: 3383: 3029: 3024:, an increase in gold and silver was one of the ways of mercantilism increasing an economy's reserve or the 2818: 2459: 2105: 2100: 2090: 1785: 1673: 1589: 1300: 1075: 1025: 906: 634: 504: 94: 4414: 2741:

Scholars debate over why mercantilism dominated economic ideology for 250 years. One group, represented by

5323: 5293: 5261: 5204: 5114: 4998: 4907: 4303: 2805: 2612: 2489: 2283: 2142: 2073: 1960: 1918: 1310:

The mercantilists saw a large population as a form of wealth that made possible the development of bigger

1085: 484: 214: 191: 4553:

Magnusson, Lars G. (2003), "Mercantilism", in Samuels, Warren J.; Biddle, Jeff E.; Davis, Jon B. (eds.),

2998:. In Germany, mercantilism remained an important ideology in the 19th and early 20th centuries, when the 1690:

The connection between communism and mercantilism has been explored by Marxist economist and sociologist

5559: 5448: 5396: 5371: 5179: 5159: 4968: 3174: 2984: 2971: 2944: 2924: 2916: 2894: 2858: 2849: 2840: 2731: 2592: 2577: 2499: 2479: 2434: 2331: 2190: 2180: 2152: 2025: 2015: 1943: 1420: 1401: 1204: 1080: 725: 415: 385: 370: 283: 259: 254:

Numerous French authors helped cement French policy around statist mercantilism in the 17th century, as

3344: 2861:. Mercantilism was rejected by Britain and France by the mid-19th century. The British Empire embraced 3307: 5533: 5513: 5453: 5288: 5236: 4993: 4558: 3518: 3035:

As of 2010, the word "mercantilism" remains a pejorative term, often used to attack various forms of

2642: 2597: 2572: 2539: 2243: 2238: 2175: 2170: 1928: 1765: 1577: 1544: 1181: 985: 793: 690: 654: 499: 432: 380: 183: 143:(from the 15th to the 18th centuries). Evidence of mercantilistic practices appeared in early-modern 86:. Mercantilist theory varies in sophistication from one writer to another and has evolved over time. 49: 2865:

and used its power as the financial center of the world to promote the same. The Guyanese historian

5518: 5313: 5246: 5216: 5142: 5137: 5104: 4701: 4446: 3469: 3067: 3016: 2976: 2356: 2278: 2233: 2228: 2095: 2085: 1985: 1795: 1760: 1718: 1605: 1581: 1532: 1292: 1288: 1095: 1040: 1035: 968: 958: 644: 479: 291: 267: 195: 140: 3369: 1523:

removed foreign merchants from being involved England's domestic trade. British policies in their

1176:(1571–1641) as a major creator of the mercantile system, especially in his posthumously published 221:

in Parliament and issued orders to her navy for the protection and promotion of English shipping.

171:

is considered to have written one of the first treatises on political economy with his 1613 work,

5298: 5241: 4988: 4690: 4682: 4634:

The rise of commercial empires: England and the Netherlands in the Age of Mercantilism, 1650–1770

4481: 4473: 4235: 3839: 3178: 2920: 2602: 2562: 2439: 2288: 2253: 2040: 2000: 1955: 1875: 1830: 1810: 1613: 1596: 1484: 1311: 1100: 1060: 931: 836: 455: 437: 427: 420: 275: 1239:

That all exports of gold and silver be prohibited and all domestic money be kept in circulation.

4598:

The Great Frontier War: Britain, France, and the Imperial Struggle for North America, 1607–1755

1230:

That every little bit of a country's soil be utilized for agriculture, mining or manufacturing.

238:

England's Treasure by Foreign Trade or the Balance of Foreign Trade is the Rule of Our Treasure

5508: 5428: 5366: 5359: 5189: 4948: 4889: 4837: 4819: 4801: 4783: 4766: 4756: 4619: 4601: 4583: 4562: 4540: 4522: 4504: 4485: 4400: 4349: 4331: 4313: 4290: 4272: 4254: 4020: 3890: 3769: 3763: 3744: 3477: 3449: 3424: 3414: 3135: 2995: 2813: 2753: 2735: 2667: 2534: 2401: 2391: 2336: 2258: 2132: 2117: 1995: 1965: 1895: 1885: 1820: 1640: 1624: 1528: 1492: 953: 705: 685: 472: 465: 460: 225: 199: 5376: 4983: 4953: 4748: 4674: 4451:"Notes on Mercantilism, the Usury Laws, Stamped Money and the Theories of Under-Consumption" 4426: 4248: 3420: 3220: 3145: 3053: 2958: 2749:

remained opaque to people at the time, as they simply lacked the required analytical tools.

2469: 2444: 2396: 2376: 2321: 2298: 2248: 2127: 2030: 2020: 2010: 1975: 1865: 1815: 1805: 1800: 1691: 1657: 1653: 1620:. The culmination of all of these policies led to Spain defaulting in 1557, 1575, and 1596. 1564: 1519:

bounties given for exports, and the export of some raw materials was banned completely. The

1503: 1307:

were seen to inevitably lead to vice and laziness, and would result in harm to the economy.

1254:

That no importation be allowed if such goods are sufficiently and suitably supplied at home.

1208: 946: 881: 866: 818: 808: 802: 775: 760: 531: 494: 274:

In Europe, academic belief in mercantilism began to fade in the late-18th century after the

75: 2796:

Prior to mercantilism, the most important economic work done in Europe was by the medieval

70:

deficit or reach a current account surplus, and it includes measures aimed at accumulating

5538: 5458: 5303: 5251: 5209: 5127: 4875: 4740: 4724: 4575: 4212: 3268: 3109: 3089: 3085: 3075: 3057: 3040: 3025: 2834: 2830: 2727: 2679: 2524: 2429: 2386: 2366: 2361: 2351: 2346: 2268: 2063: 1524: 1476: 1468: 1359: 1192: 1166: 1070: 1030: 995: 891: 851: 846: 813: 659: 639: 629: 619: 604: 584: 519: 405: 330: 206: 135:

Mercantilism became the dominant school of economic thought in Europe throughout the late

113: 52: 3833: 2829:

view of the world, and some of the most stridently mercantilist legislation, such as the

1506:

were fought between the English and the Dutch for control over the seas and trade routes.

4469: 3363: 1445:

France imposed its mercantilist philosophy on its colonies in North America, especially

205:

England began the first large-scale and integrative approach to mercantilism during the

4744: 4662: 4430: 4307: 3173:

if they traded. This is an example of the reciprocal benefits of trade (whether due to

3130: 3046: 2909:

In 1690, Locke argued that prices vary in proportion to the quantity of money. Locke's

2801: 2746: 2632: 2617: 2587: 2509: 2371: 2005: 1850: 1840: 1770: 1755: 1750: 1617: 1540: 1480: 1276: 1055: 871: 765: 609: 79: 38: 1471:

government (1640–60). Mercantilist policies were also embraced throughout much of the

1396: 5553: 5468: 5423: 5386: 5174: 5064: 4978: 4943: 4732: 4694: 4287:

Mercantilism as a Rent-Seeking Society: Economic Regulation in Historical Perspective

4201: 3530: 3036: 2991: 2928: 2886: 2866: 2854: 2822: 2797: 2622: 2494: 2454: 2326: 1990: 1890: 1870: 1585: 1304: 1248:

That as much as possible, imports be confined to raw materials that can be finished .

1196: 1105: 1090: 896: 886: 876: 861: 841: 770: 614: 536: 447: 410: 400: 390: 279: 168: 60: 3446:

Modern World System and Indian Proto-industrialization: Bengal 1650–1800, (Volume 1)

2906:

undermined much of mercantilism and it steadily lost favor during the 18th century.

1222:, detailed a nine-point program of what he deemed effective national economy in his 5149: 4973: 4223: 3079: 3012: 2784: 2757: 2544: 2484: 2411: 1880: 1706:

are often dependent on such tariffs and restrictions hurting the opposing economy.

1472: 1349: 1284: 1264: 980: 856: 720: 715: 710: 695: 649: 624: 599: 594: 541: 241: 2779:

Mercantilism developed at a time of transition for the European economy. Isolated

4865: 4834:

The Ancién Regime in Europe: government and society in the major states 1648–1789

4728: 4328:

Tackling the Poverty of Nations: Why So Many Are Poor and What We Can Do About It

3185:

a zero-sum game of cutthroat competition, because both sides can benefit from it.

1416:. The next year, a number of restrictions were imposed on the export of bullion. 5184: 5099: 4580:

John Maynard Keynes and International Relations: Economic Paths to War and Peace

3910: 3021: 2962: 2808: 2769: 2742: 2627: 2529: 2449: 2205: 1938: 1900: 1855: 1825: 1780: 1664: 1319: 1296: 1295:

of the working population; laborers and farmers were to live at the "margins of

1045: 1000: 963: 941: 936: 549: 524: 303: 266:

from 1665 to 1683 who revised the tariff system and expanded industrial policy.

164: 136: 83: 4752: 3802: 286:

through the activities of the East India Company, in light of the arguments of

5354: 5256: 5089: 5009: 4963: 4958: 3526: 2939: 2903: 2882: 2878: 2862: 2844: 2764: 2719: 2607: 2316: 2137: 2068: 1726: 1559: 1512: 1488: 1446: 1424: 1391: 1280: 1259: 1219: 1200: 1173: 375: 343: 307: 287: 233: 187: 179: 160: 4770: 5503: 2780: 2662: 2647: 2637: 2582: 2406: 2341: 2185: 1933: 1740: 1703: 1568: 1065: 589: 554: 489: 353: 348: 299: 224:

Authors noted most for establishing the English mercantilist system include

56: 17: 4369:

Heckscher, Eli F. (1936) "Revisions in Economic History: V. Mercantilism."

2745:, sees mercantilism as simply a straightforward, common-sense system whose 2674: 1368:

Promoting manufacturing and industry through research or direct subsidies.

1358:

Forbidding trade to be carried in foreign ships, as per, for example, the

1120: 298:(in power from 1799 to 1814/1815). The British Parliament's repeal of the 82:. Historically, such policies might have contributed to war and motivated 5528: 5164: 4711: 3416:

How India Clothed the World: The World of South Asian Textiles, 1500–1850

3062: 2890: 2474: 2381: 1835: 1745: 1548: 1413: 1268: 442: 295: 209:(1558–1603). An early statement on national balance of trade appeared in 4644: 3765:

International Political Economy: Perspectives on Global Power and Wealth

3225:

Mercantilism and the Economic History of the Early Modern Atlantic World

4686: 4537:

The Origins of Scientific Economics: English Economic Thought 1660–1776

4377: 3873:

The French Atlantic triangle: literature and culture of the slave trade

3857:

The French Atlantic triangle: literature and culture of the slave trade

3125: 3097: 2826: 1775: 1631:

also followed some mercantilist financial policies during the reign of

1601: 798: 574: 156: 4798:

A Concise History of Economic Thought: From Mercantilism to Monetarism

2934: 4884: 4346:

European Economic History: From Mercantilism to Maastricht and Beyond

3116:, while causing short-term harm, can be beneficial in the long term. 1684: 1677: 1636: 1463:

Economic history of the United Kingdom § The age of mercantilism

1339: 1242:

That all imports of foreign goods be discouraged as much as possible.

926: 144: 129: 90: 4678: 3308:"U.S. tech group urges global action against Chinese "mercantilism"" 3052:

Some other systems that copy several mercantilist policies, such as

1291:. One notion that mercantilists widely agreed upon was the need for 4705: 1567:

in the North Atlantic, in which raw materials were imported to the

1226:

of 1684, which comprehensively sums up the tenets of mercantilism:

3071: 2933: 1860: 1558: 1497: 1409: 1395: 148: 123: 29: 3206:

History of the domestic and foreign commerce of the United States

2975:

in 1776. This book outlines the basics of what is today known as

4899: 1668:

monopolies in certain defined geographical regions, such as the

1315: 152: 5013: 4903: 4652: 4885:

An Inquiry Into the Nature and Causes of the Wealth of Nations

4616:

A History of Economic Theory: Classic Contributions, 1720–1980

4206:

Colbert, Mercantilism and the French Quest for the Asian Trade

2718:

The term "mercantile system" was used by its foremost critic,

3835:

History of domestic and foreign commerce of the United States

4364:

New Economics: Keynes' Influence on Theory And Public Policy

3688: 3686: 3499:"Insights From Doctrinal History. Mercantilists. Classicals" 3269:"Mercantilism: A Lesson for Our Times? | Murray N. Rothbard" 1652:

to take it from another. A number of wars, most notably the

1299:". The goal was to maximize production, with no concern for 104:

With the efforts of supranational organizations such as the

1608:

had perhaps the most rigidly controlled economy in Europe.

236:(1571–1641), who first articulated the Elizabethan system ( 2927:(although this idea was only fully fleshed out in 1817 by 2793:

an increase in "the volume of merchant activity itself".

1355:

Banning the export of gold and silver, even for payments.

2825:. This dark view of human nature also fit well with the 3216: 3214: 1571:

and then processed and redistributed to other colonies.

282:, a major trading nation, and the establishment of the 211:

Discourse of the Common Wealth of this Realm of England

3566:

A Discourse of Trade from England unto the East Indies

1563:

Mercantilism helped create trade patterns such as the

1547:, and this era thus saw projects like the draining of 4456:

The General Theory of Employment, Interest, and Money

3060:. In an essay appearing in the May 14, 2007 issue of 2919:). Mercantilists failed to understand the notions of 1467:

In England, mercantilism reached its peak during the

173:

A Short Treatise on the Wealth and Poverty of Nations

3545: 3543: 3541: 5481: 5225: 5113: 5080: 5073: 5047: 4665:(May 1964), "Theoretical notes on trade problems", 4289:, College Station: Texas A&M University Press, 3078:

trade policy that threatened to undermine the post–

294:. French economic policy liberalized greatly under 4582:, Oxford & New York: Oxford University Press, 4348:(1st ed.), Copenhagen Business School Press, 4267:Ekelund, Robert B. Jr.; Hébert, Robert F. (1997), 3746:Seeds of Liberty: The Genesis of the American Mind 3032:in the economy as necessary, as did mercantilism. 4618:, Baltimore, MD: Johns Hopkins University Press, 3938: 3936: 2752:The second school, supported by scholars such as 41:, completed in 1639 at the height of mercantilism 4285:Ekelund, Robert B.; Tollison, Robert D. (1981), 4271:(4th ed.), Long Grove, IL: Waveland Press, 3990: 3954: 3871:Miller, C. L. 2008. "Introduction." pp. 1–39 in 3641: 3605: 3250: 3248: 1345:Forbidding colonies to trade with other nations. 1303:. Extra money, free time, and education for the 155:regarding control of the Mediterranean trade in 4076: 3838:. Carnegie Institution of Washington. pp. 3629: 3617: 3293:"Macroeconomic effects of Chinese mercantilism" 3094: 1318:. Opposite to mercantilism was the doctrine of 1236:That a large, working population be encouraged. 59:within the country and use those resources for 4555:A Companion to the History of Economic Thought 4247:Ekelund, Robert B.; Hébert, Robert F. (1975), 5025: 4915: 4217:Civilization and Capitalism 15th–18th Century 4039: 3927: 3855:Miller, C. L. 2008. "Introduction." p. 14 in 3665: 3593: 2699: 1145: 258:(reigned 1643–1715) followed the guidance of 8: 4814:Walters, Robert S.; Blake, David H. (1976), 4517:Landreth, Harry; Colander, David C. (2002), 4459:, London: Palgrave Macmillan, archived from 4309:Economics in Perspective: A Critical History 4161: 4017:International Business Management Text Cases 1527:led to friction with the inhabitants of the 4228:The Oxford Encyclopedia of Economic History 3832:Emory Richard Johnson; et al. (1915). 3768:(4th ed.). Routledge. pp. 128ff. 3762:Frieden, Jeffry A.; Lake, David A. (2014). 2783:estates were being replaced by centralized 5077: 5032: 5018: 5010: 4922: 4908: 4900: 4796:Vaggi, Gianni; Groenewegen, Peter (2003), 4521:(4th ed.), Boston: Houghton Mifflin, 4051:Referenced to Davenant, 1771 , p. 171, in 3677: 2833:of 1651, was enacted by the government of 2706: 2692: 1713: 1152: 1138: 317: 4816:The Politics of Global Economic Relations 4503:, Cambridge: Cambridge University Press, 4441:, New York: Holmes & Meier Publishers 4149: 4064: 4052: 3978: 3911:"Mercantilism: Definition & Examples" 3887:Regulating the British Economy, 1660–1850 3581: 3561: 3549: 3254: 1576:Central Europe and Scandinavia after the 1400:French finance minister and mercantilist 1377:Restricting domestic consumption through 1374:Maximizing the use of domestic resources. 4415:"Mercantilism: Past, Present and Future" 4173: 4125: 3692: 3474:Money and the Market in India, 1100–1700 3365:The National System of Political Economy 2768:Revolutionary and Napoleonic Wars, when 1627:with some success. Ottoman Grand Vizier 4818:, Englewood Cliffs, NJ: Prentice-Hall, 4782:(3rd ed.), Duke University Press, 4269:A History of Economic Theory and Method 4250:A History of Economic Theory and Method 4002: 3942: 3819: 3413:Giorgio Riello, Tirthankar Roy (2009). 3387: 3197: 3181:). In modern economic theory, trade is 3157: 1725: 329: 4667:The Review of Economics and Statistics 4185: 4137: 4112: 4100: 4088: 3966: 3788: 3728: 3704: 3653: 3568:(1621) and perhaps the more important 1165:"mercantilism" came into English from 5195:Marxian critique of political economy 4654:Mercantilism: A Lesson for Our Times? 4478:The Concise Encyclopedia of Economics 3867: 3865: 3851: 3849: 3757: 3755: 3739: 3737: 3239:The Concise Encyclopedia of Economics 3092:of economics, describes it this way: 178:Mercantilism in its simplest form is 112:have assumed a greater importance in 66:The policy aims to reduce a possible 7: 4397:The Century of Revolution, 1603–1714 3889:. Farnham: Ashgate Pub. p. 83. 3716: 3570:England's Treasure by Forraign Trade 3345:"Learning from Chinese Mercantilism" 3141:Neorealism (international relations) 306:in 1846 symbolized the emergence of 4868:Englands Treasure by Forraign Trade 4657:, Cheltenham, England: Edward Elgar 3306:Martina, Michael (March 16, 2017). 1683:With the establishment of overseas 1342:, especially on manufactured goods. 27:Economic policy emphasizing exports 4854:, London: Routledge and Kegan Paul 4737:The Encyclopedia of Libertarianism 4431:10.1111/j.1467-9957.1974.tb00098.x 4215:(1979), "The Wheels of Commerce", 3082:international economic structure. 1224:Austria Over All, If She Only Will 25: 3327:"Why Do All Roads Lead To China?" 1126:Business and economics portal 5499:History of macroeconomic thought 5324:Neoclassical–Keynesian synthesis 4800:, New York: Palgrave Macmillan, 4413:Johnson, Harky G. (March 1974), 2673: 2661: 1495:, but were often controversial. 1214:The Austrian lawyer and scholar 1119: 251:–1699) then developed further. 4778:Spiegel, Henry William (1991), 4643:24#94 (1939), pp. 129–135 4242:, Oxford University Press, 2014 1186:Principles of Political Economy 4780:The growth of economic thought 3525:gave way to the classicism of 3000:historical school of economics 264:Controller-General of Finances 198:concerns irrelevant. In time, 1: 5489:Critique of political economy 4344:Hansen, E. Damsgaard (2001), 3401:The European World: A history 3236:"Mercantilism," Laura LaHaye 2948:is an attack on mercantilism. 2931:) and the benefits of trade. 2465:Critique of political economy 2123:Critique of political economy 1021:Commons-based peer production 741:Socialism of the 21st century 245: 5397:Rational expectations theory 4639:Rees, J. F. "Mercantilism" 4437:Kellenbenz, Hermann (1976), 4312:, Boston: Houghton Mifflin, 3991:Landreth & Colander 2002 3955:Landreth & Colander 2002 3642:Landreth & Colander 2002 3606:Landreth & Colander 2002 3314:– via www.reuters.com. 3074:was pursuing an essentially 3056:, are also sometimes called 2515:Periodizations of capitalism 1379:non-tariff barriers to trade 1334:The policies have included: 110:non-tariff barriers to trade 108:to reduce tariffs globally, 5494:History of economic thought 5041:Schools of economic thought 4999:Philipp Wilhelm von Hornick 4707:China's Wrong Turn on Trade 4519:History of Economic Thought 4387:, London: Allen & Unwin 4362:Harris, Seymour E. (1950), 4077:Ekelund & Tollison 1981 3630:Ekelund & Tollison 1981 3618:Ekelund & Tollison 1981 3476:. Oxford University Press. 2211:Simple commodity production 1629:Kemankeş Kara Mustafa Pasha 1451:Compagnie des Cent-Associés 1216:Philipp Wilhelm von Hornick 1169:in the early-19th century. 5581: 5414:New neoclassical synthesis 5402:Real business-cycle theory 4753:10.4135/9781412965811.n198 4383:Heckscher, Eli F. (1935), 4376:7#1 1936, pp. 44–54. 3444:Abhay Kumar Singh (2006). 3267:kanopiadmin (2017-02-15). 2520:Perspectives on capitalism 1676:(operating in present-day 1592:being notable proponents. 1460: 1441:Economic history of Canada 1438: 1389: 1348:Monopolizing markets with 310:as an alternative system. 4939: 4850:Wilson, Charles (1963) , 4651:Rothbard, Murray (1997), 4535:Letwin, William (2003) , 4499:Landes, David S. (1997), 4326:Grant, R. George (2009), 4253:, New York: McGraw–Hill, 4230:, Oxford University Press 4040:Ekelund & Hébert 1975 4015:Dutta, Bholanath (2010). 3928:Ekelund & Hébert 1975 3801:Rothbard, Murray (2010). 3666:Ekelund & Hébert 1975 3594:Ekelund & Hébert 1997 1586:Jacob Kettler of Courland 1404:served for over 20 years. 1218:, one of the pioneers of 1199:(1580–?) and, in France, 1178:Treasure by Foreign Trade 515:Socialist-oriented market 219:Trade and Navigation Acts 4832:Williams, E. N. (1999), 4399:(2nd ed.), Nelson, 4226:(2003), "Mercantilism", 4162:Walters & Blake 1976 3875:. Duke University Press. 3859:. Duke University Press. 3506:Richmond Federal Reserve 3448:. Northern Book Centre. 2857:with his explanation of 2847:with the publication of 2790:double-entry bookkeeping 1791:Economic interventionism 1670:Dutch East India Company 1663:Mercantilism fueled the 1287:and price ceilings were 106:World Trade Organization 99:economic interventionism 5524:Post-autistic economics 4372:Economic History Review 4304:Galbraith, John Kenneth 4240:Encyclopædia Britannica 3915:Encyclopedia Britannica 3803:"Mercantilism in Spain" 3368:. A.M. Kelley. p. 3362:Friedrich List (1916). 3054:Japan's economic system 3030:government intervention 2819:international relations 2811:and the primacy of the 2460:Criticism of capitalism 1614:separation of the Dutch 1590:Christian IV of Denmark 1279:and government-imposed 290:(1723–1790) and of the 192:floating exchange rates 95:proto-industrialization 5262:Modern Monetary Theory 4632:Omrund, David (2003), 4614:Niehans, Jürg (1990), 4468:LaHaye, Laura (2008). 3103: 2949: 2490:Exploitation of labour 2201:Primitive accumulation 1572: 1507: 1405: 132: 42: 5346:Keynes–Marx synthesis 4969:Jean-Baptiste Colbert 4739:. Thousand Oaks, CA: 4539:, London: Routledge, 4419:The Manchester School 3885:Gauci, Perry (2011). 3066:, business columnist 2985:group decision making 2972:The Wealth of Nations 2945:The Wealth of Nations 2937: 2925:comparative advantage 2917:labor theory of value 2895:Jean-Jacques Rousseau 2859:comparative advantage 2853:in 1776 and later by 2850:The Wealth of Nations 2841:Jean-Baptiste Colbert 2732:divine right of kings 2668:Capitalism portal 2480:Culture of capitalism 2435:Capitalist propaganda 2191:Industrial Revolution 2181:Commercial Revolution 1562: 1501: 1421:Jean-Baptiste Colbert 1402:Jean-Baptiste Colbert 1399: 1365:Subsidies on exports. 1188:, published in 1767. 260:Jean Baptiste Colbert 127: 33: 5534:World-systems theory 5514:Mainstream economics 5454:Technocracy movement 5434:Saltwater/freshwater 4994:James Denham-Steuart 4747:. pp. 326–328. 4702:Samuelson, Robert J. 4559:Blackwell Publishing 4480:. Indianapolis, IN: 4447:Keynes, John Maynard 3517:the mercantilism of 3497:Humphrey, Thomas M. 3295:. December 31, 2009. 3227:(Cambridge UP, 2001) 3169:states would end up 2831:Navigation Ordinance 2643:Right-libertarianism 2573:Classical liberalism 2540:Venture philanthropy 2176:Capitalism and Islam 2171:Age of Enlightenment 1766:Capital accumulation 1674:Hudson's Bay Company 1647:Wars and imperialism 1545:highest and best use 1051:Newly industrialized 794:Collective ownership 655:Vertical archipelago 292:classical economists 194:have since rendered 184:growing money-supply 5519:Heterodox economics 5247:Capability approach 5123:American (National) 5105:School of Salamanca 4836:, London: Pimlico, 4596:Nester, R. (2000), 4474:Henderson, David R. 3695:, pp. 177–183. 3470:Sanjay Subrahmanyam 3399:Jerome Blum et al. 3088:, representing the 3068:Robert J. Samuelson 3017:John Maynard Keynes 2977:classical economics 2874:End of mercantilism 2680:Business portal 1796:Economic liberalism 1786:Competitive markets 1606:Frederick the Great 1597:Holy Roman Emperors 1582:Christina of Sweden 1533:American Revolution 1293:economic oppression 1036:Inclusive Democracy 141:early-modern period 5155:English historical 4989:Ferdinando Galiani 4874:2006-10-23 at the 4484:pp. 340–343. 4482:Liberty Fund, Inc. 3822:, pp. 93–118. 3382:Now attributed to 3179:absolute advantage 2950: 2921:absolute advantage 2440:Capitalist realism 1831:Goods and services 1811:Fictitious capital 1573: 1508: 1412:and some parts of 1406: 974:Material balancing 456:Buddhist economics 276:East India Company 133: 84:colonial expansion 43: 5547: 5546: 5509:Political economy 5477: 5476: 5409:New institutional 5382:Neo-Schumpeterian 5190:Marxist economics 5170:German historical 5007: 5006: 4949:Gerard de Malynes 4895:Wealth of Nations 4890:Project Gutenberg 4843:978-0-7126-5934-5 4825:978-0-13-684712-0 4807:978-0-333-99936-3 4789:978-0-8223-0973-4 4762:978-1-4129-6580-4 4625:978-0-8018-3834-7 4607:978-0-275-96772-7 4589:978-0-19-829236-4 4568:978-0-631-22573-7 4546:978-0-415-31329-2 4528:978-0-618-13394-9 4510:978-0-521-09418-4 4491:978-0-86597-666-5 4406:978-0-17-712002-2 4393:Hill, Christopher 4355:978-87-630-0017-8 4337:978-1-4363-3582-9 4319:978-0-395-35572-5 4296:978-0-89096-120-9 4278:978-1-57766-381-2 4260:978-0-07-019143-3 4103:, vol. 2, p. 484. 4026:978-81-7446-867-3 3981:, pp. 33–34. 3917:. 22 August 2023. 3896:978-0-7546-9762-6 3775:978-1-134-59595-2 3748:(1948) pp. 204ff. 3596:, pp. 40–41. 3483:978-0-521-25758-9 3455:978-81-7211-201-1 3430:978-90-474-2997-5 3136:Money-free market 3114:infant industries 2996:French Revolution 2772:came into vogue. 2754:Robert B. Ekelund 2747:logical fallacies 2736:absolute monarchy 2716: 2715: 2535:Spontaneous order 2505:History of theory 2148:New institutional 2118:Market monetarism 2053:Economic theories 1886:Supply and demand 1821:Free price system 1658:Franco-Dutch Wars 1578:Thirty Years' War 1529:Thirteen Colonies 1525:American colonies 1493:English Civil War 1162: 1161: 672:By regional model 466:Sabbath economics 226:Gerard de Malynes 200:industrial policy 72:monetary reserves 35:Seaport at sunset 16:(Redirected from 5572: 5539:Economic systems 5078: 5060:Medieval Islamic 5034: 5027: 5020: 5011: 4984:Charles Davenant 4954:Edward Misselden 4924: 4917: 4910: 4901: 4892: 4855: 4846: 4828: 4810: 4792: 4774: 4725:Smith, George H. 4720: 4719: 4718: 4697: 4658: 4647:; historiography 4636: 4628: 4610: 4592: 4576:Markwell, Donald 4571: 4549: 4531: 4513: 4495: 4464: 4442: 4433: 4409: 4388: 4366: 4358: 4340: 4322: 4299: 4281: 4263: 4243: 4231: 4224:Brezis, Elise S. 4219: 4213:Braudel, Fernand 4208: 4189: 4183: 4177: 4171: 4165: 4159: 4153: 4147: 4141: 4135: 4129: 4122: 4116: 4110: 4104: 4098: 4092: 4086: 4080: 4074: 4068: 4062: 4056: 4049: 4043: 4037: 4031: 4030: 4012: 4006: 4000: 3994: 3988: 3982: 3976: 3970: 3964: 3958: 3952: 3946: 3940: 3931: 3925: 3919: 3918: 3907: 3901: 3900: 3882: 3876: 3869: 3860: 3853: 3844: 3843: 3829: 3823: 3817: 3811: 3810: 3798: 3792: 3786: 3780: 3779: 3759: 3750: 3741: 3732: 3726: 3720: 3714: 3708: 3702: 3696: 3690: 3681: 3675: 3669: 3663: 3657: 3651: 3645: 3639: 3633: 3627: 3621: 3615: 3609: 3603: 3597: 3591: 3585: 3579: 3573: 3559: 3553: 3547: 3536: 3535: 3514: 3512: 3503: 3494: 3488: 3487: 3466: 3460: 3459: 3441: 3435: 3434: 3421:Brill Publishers 3410: 3404: 3397: 3391: 3384:Sir Thomas Smith 3380: 3374: 3373: 3359: 3353: 3352: 3351:. March 2, 2016. 3341: 3335: 3334: 3322: 3316: 3315: 3303: 3297: 3296: 3289: 3283: 3282: 3280: 3279: 3264: 3258: 3252: 3243: 3234: 3228: 3221:John J. McCusker 3218: 3209: 3202: 3186: 3162: 3146:Crony capitalism 3076:neo-mercantilist 3058:neo-mercantilist 2959:Charles Davenant 2708: 2701: 2694: 2678: 2677: 2666: 2665: 2470:Critique of work 2445:Capitalist state 2128:Critique of work 2011:Regulated market 1913:Economic systems 1866:Private property 1816:Financial market 1806:Entrepreneurship 1801:Economic surplus 1714: 1692:Giovanni Arrighi 1654:Anglo-Dutch Wars 1580:(1618–48), with 1565:triangular trade 1504:Anglo-Dutch Wars 1195:(1544–1617) and 1154: 1147: 1140: 1124: 1123: 882:Municipalization 867:Financialization 837:Collectivization 819:Social ownership 809:Private property 803:Common ownership 761:Common ownership 575:Closed (autarky) 532:State capitalism 510:Socialist market 495:Market socialist 331:Economic systems 318: 250: 247: 231: 78:, especially of 76:balance of trade 37:, a painting by 21: 5580: 5579: 5575: 5574: 5573: 5571: 5570: 5569: 5565:Economic policy 5550: 5549: 5548: 5543: 5473: 5459:Thermoeconomics 5230:21st centuries) 5229: 5227: 5221: 5109: 5069: 5055:Ancient schools 5043: 5038: 5008: 5003: 4935: 4928: 4893:: Adam Smith's 4882: 4876:Wayback Machine 4862: 4849: 4844: 4831: 4826: 4813: 4808: 4795: 4790: 4777: 4763: 4723: 4716: 4714: 4704:(17 May 2007), 4700: 4679:10.2307/1928178 4663:Samuelson, Paul 4661: 4650: 4631: 4626: 4613: 4608: 4595: 4590: 4574: 4569: 4552: 4547: 4534: 4529: 4516: 4511: 4498: 4492: 4467: 4445: 4436: 4412: 4407: 4391: 4382: 4361: 4356: 4343: 4338: 4325: 4320: 4302: 4297: 4284: 4279: 4266: 4261: 4246: 4234: 4222: 4211: 4200: 4197: 4195:Further reading 4192: 4184: 4180: 4172: 4168: 4160: 4156: 4148: 4144: 4136: 4132: 4123: 4119: 4111: 4107: 4099: 4095: 4087: 4083: 4075: 4071: 4063: 4059: 4050: 4046: 4038: 4034: 4027: 4019:. Excel Books. 4014: 4013: 4009: 4001: 3997: 3989: 3985: 3977: 3973: 3965: 3961: 3953: 3949: 3941: 3934: 3926: 3922: 3909: 3908: 3904: 3897: 3884: 3883: 3879: 3870: 3863: 3854: 3847: 3831: 3830: 3826: 3818: 3814: 3807:Mises Institute 3800: 3799: 3795: 3787: 3783: 3776: 3761: 3760: 3753: 3742: 3735: 3727: 3723: 3715: 3711: 3703: 3699: 3691: 3684: 3678:Kellenbenz 1976 3676: 3672: 3664: 3660: 3652: 3648: 3640: 3636: 3628: 3624: 3616: 3612: 3604: 3600: 3592: 3588: 3580: 3576: 3560: 3556: 3548: 3539: 3510: 3508: 3501: 3496: 3495: 3491: 3484: 3468: 3467: 3463: 3456: 3443: 3442: 3438: 3431: 3423:. p. 174. 3412: 3411: 3407: 3398: 3394: 3381: 3377: 3361: 3360: 3356: 3343: 3342: 3338: 3324: 3323: 3319: 3305: 3304: 3300: 3291: 3290: 3286: 3277: 3275: 3273:Mises Institute 3266: 3265: 3261: 3253: 3246: 3235: 3231: 3219: 3212: 3203: 3199: 3195: 3190: 3189: 3163: 3159: 3154: 3122: 3110:Navigation Acts 3090:Austrian School 3086:Murray Rothbard 3041:neomercantilism 3026:supply of money 3008: 3002:was paramount. 2912:Second Treatise 2876: 2835:Oliver Cromwell 2728:political power 2712: 2672: 2660: 2653: 2652: 2558: 2550: 2549: 2525:Post-capitalism 2430:Anti-capitalism 2425: 2417: 2416: 2312: 2304: 2303: 2224: 2216: 2215: 2166: 2158: 2157: 2054: 2046: 2045: 2036:State-sponsored 1914: 1906: 1905: 1771:Capital markets 1736: 1712: 1649: 1557: 1555:Other countries 1521:Navigation Acts 1469:Long Parliament 1465: 1459: 1443: 1437: 1394: 1388: 1371:Limiting wages. 1360:Navigation Acts 1328: 1193:Giovanni Botero 1158: 1118: 1111: 1110: 1076:Post-industrial 1071:Post-capitalist 1031:Hunter-gatherer 1016: 1008: 1007: 922: 914: 913: 892:Nationalization 852:Demutualization 847:Corporatization 832: 824: 823: 814:State ownership 789: 781: 780: 756: 748: 747: 673: 665: 664: 635:Robinson Crusoe 570: 569:By coordination 562: 561: 546:Traditionalist 406:Neomercantilist 366: 358: 339: 316: 248: 232:1585–1641) and 215:Queen Elizabeth 207:Elizabethan Era 159:. However, the 122: 114:neomercantilism 68:current account 53:economic policy 28: 23: 22: 15: 12: 11: 5: 5578: 5576: 5568: 5567: 5562: 5552: 5551: 5545: 5544: 5542: 5541: 5536: 5531: 5526: 5521: 5516: 5511: 5506: 5501: 5496: 5491: 5485: 5483: 5479: 5478: 5475: 5474: 5472: 5471: 5466: 5461: 5456: 5451: 5446: 5441: 5436: 5431: 5426: 5421: 5419:Organizational 5416: 5411: 5406: 5405: 5404: 5399: 5389: 5384: 5379: 5374: 5369: 5367:Neo-Malthusian 5364: 5363: 5362: 5352: 5351: 5350: 5349: 5348: 5343: 5333: 5328: 5327: 5326: 5311: 5306: 5301: 5296: 5291: 5286: 5284:Disequilibrium 5281: 5276: 5274:Constitutional 5271: 5266: 5265: 5264: 5254: 5249: 5244: 5239: 5233: 5231: 5223: 5222: 5220: 5219: 5214: 5213: 5212: 5202: 5197: 5192: 5187: 5182: 5177: 5172: 5167: 5162: 5160:French liberal 5157: 5152: 5147: 5146: 5145: 5135: 5130: 5125: 5119: 5117: 5111: 5110: 5108: 5107: 5102: 5097: 5092: 5086: 5084: 5075: 5071: 5070: 5068: 5067: 5062: 5057: 5051: 5049: 5045: 5044: 5039: 5037: 5036: 5029: 5022: 5014: 5005: 5004: 5002: 5001: 4996: 4991: 4986: 4981: 4976: 4971: 4966: 4961: 4956: 4951: 4946: 4940: 4937: 4936: 4933: 4929: 4927: 4926: 4919: 4912: 4904: 4898: 4897: 4879: 4878: 4861: 4860:External links 4858: 4857: 4856: 4847: 4842: 4829: 4824: 4811: 4806: 4793: 4788: 4775: 4761: 4745:Cato Institute 4733:Hamowy, Ronald 4729:"Mercantilism" 4721: 4698: 4673:(2): 145–154, 4659: 4648: 4637: 4629: 4624: 4611: 4606: 4593: 4588: 4572: 4567: 4557:, Malden, MA: 4550: 4545: 4532: 4527: 4514: 4509: 4496: 4490: 4470:"Mercantilism" 4465: 4443: 4434: 4410: 4405: 4389: 4380: 4367: 4359: 4354: 4341: 4336: 4323: 4318: 4300: 4295: 4282: 4277: 4264: 4259: 4244: 4236:"Mercantilism" 4232: 4220: 4209: 4202:Ames, Glenn J. 4196: 4193: 4191: 4190: 4178: 4166: 4154: 4150:Samuelson 1964 4142: 4130: 4117: 4115:, p. 321. 4105: 4093: 4081: 4069: 4065:Magnusson 2003 4057: 4053:Magnusson 2003 4044: 4032: 4025: 4007: 3995: 3983: 3979:Galbraith 1987 3971: 3959: 3947: 3932: 3920: 3902: 3895: 3877: 3861: 3845: 3824: 3812: 3793: 3781: 3774: 3751: 3733: 3721: 3709: 3697: 3682: 3670: 3658: 3646: 3634: 3622: 3620:, p. 154. 3610: 3598: 3586: 3582:Magnusson 2003 3574: 3562:Magnusson 2003 3554: 3550:Magnusson 2003 3537: 3489: 3482: 3461: 3454: 3436: 3429: 3405: 3403:(1970) p. 279. 3392: 3388:Braudel (1979) 3375: 3354: 3336: 3317: 3298: 3284: 3259: 3255:Samuelson 2007 3244: 3229: 3210: 3204:Johnson et al 3196: 3194: 3191: 3188: 3187: 3156: 3155: 3153: 3150: 3149: 3148: 3143: 3138: 3133: 3131:British Empire 3128: 3121: 3118: 3047:Paul Samuelson 3007: 3004: 2875: 2872: 2802:microeconomics 2714: 2713: 2711: 2710: 2703: 2696: 2688: 2685: 2684: 2683: 2682: 2670: 2655: 2654: 2651: 2650: 2645: 2640: 2635: 2633:Ordoliberalism 2630: 2625: 2620: 2615: 2610: 2605: 2600: 2595: 2590: 2585: 2580: 2575: 2570: 2565: 2559: 2556: 2555: 2552: 2551: 2548: 2547: 2542: 2537: 2532: 2527: 2522: 2517: 2512: 2510:Market economy 2507: 2502: 2497: 2492: 2487: 2482: 2477: 2472: 2467: 2462: 2457: 2452: 2447: 2442: 2437: 2432: 2426: 2424:Related topics 2423: 2422: 2419: 2418: 2415: 2414: 2409: 2404: 2399: 2394: 2389: 2384: 2379: 2374: 2369: 2364: 2359: 2354: 2349: 2344: 2339: 2334: 2329: 2324: 2319: 2313: 2310: 2309: 2306: 2305: 2302: 2301: 2296: 2294:State monopoly 2291: 2286: 2281: 2276: 2271: 2266: 2261: 2256: 2251: 2246: 2241: 2236: 2231: 2225: 2222: 2221: 2218: 2217: 2214: 2213: 2208: 2203: 2198: 2193: 2188: 2183: 2178: 2173: 2167: 2164: 2163: 2160: 2159: 2156: 2155: 2150: 2145: 2140: 2135: 2130: 2125: 2120: 2115: 2114: 2113: 2108: 2103: 2093: 2088: 2083: 2078: 2077: 2076: 2066: 2061: 2055: 2052: 2051: 2048: 2047: 2044: 2043: 2038: 2033: 2028: 2023: 2018: 2013: 2008: 2003: 1998: 1993: 1988: 1983: 1978: 1973: 1968: 1963: 1958: 1953: 1946: 1941: 1936: 1931: 1926: 1921: 1915: 1912: 1911: 1908: 1907: 1904: 1903: 1898: 1893: 1888: 1883: 1878: 1873: 1868: 1863: 1858: 1853: 1851:Liberalization 1848: 1843: 1841:Invisible hand 1838: 1833: 1828: 1823: 1818: 1813: 1808: 1803: 1798: 1793: 1788: 1783: 1778: 1773: 1768: 1763: 1758: 1756:Businessperson 1753: 1751:Business cycle 1748: 1743: 1737: 1734: 1733: 1730: 1729: 1723: 1722: 1711: 1708: 1648: 1645: 1618:Spanish Empire 1604:, which under 1569:mother country 1556: 1553: 1541:global hegemon 1481:Robert Walpole 1479:periods, with 1461:Main article: 1458: 1457:United Kingdom 1455: 1439:Main article: 1436: 1433: 1390:Main article: 1387: 1384: 1383: 1382: 1375: 1372: 1369: 1366: 1363: 1356: 1353: 1346: 1343: 1327: 1324: 1277:letters patent 1256: 1255: 1252: 1249: 1246: 1243: 1240: 1237: 1234: 1231: 1160: 1159: 1157: 1156: 1149: 1142: 1134: 1131: 1130: 1129: 1128: 1113: 1112: 1109: 1108: 1103: 1098: 1093: 1088: 1086:Resource-based 1083: 1078: 1073: 1068: 1063: 1058: 1053: 1048: 1043: 1038: 1033: 1028: 1023: 1017: 1014: 1013: 1010: 1009: 1006: 1005: 1004: 1003: 998: 993: 983: 978: 977: 976: 971: 966: 961: 951: 950: 949: 944: 939: 929: 923: 920: 919: 916: 915: 912: 911: 910: 909: 899: 894: 889: 884: 879: 874: 872:Liberalization 869: 864: 859: 854: 849: 844: 839: 833: 830: 829: 826: 825: 822: 821: 816: 811: 806: 796: 790: 788:Property types 787: 786: 783: 782: 779: 778: 773: 768: 763: 757: 754: 753: 750: 749: 746: 745: 744: 743: 737:Latin America 735: 734: 733: 728: 723: 718: 713: 708: 700: 699: 698: 693: 688: 683: 674: 671: 670: 667: 666: 663: 662: 657: 652: 647: 642: 637: 632: 627: 622: 617: 612: 607: 602: 597: 592: 587: 582: 577: 571: 568: 567: 564: 563: 560: 559: 558: 557: 552: 544: 539: 534: 529: 528: 527: 522: 517: 512: 507: 502: 497: 492: 487: 477: 476: 475: 470: 469: 468: 458: 450: 445: 440: 435: 430: 425: 424: 423: 418: 413: 408: 403: 398: 393: 388: 383: 373: 367: 364: 363: 360: 359: 357: 356: 351: 346: 340: 337: 334: 333: 327: 326: 315: 312: 256:King Louis XIV 249: 1630/31 121: 118: 80:finished goods 74:by a positive 39:Claude Lorrain 26: 24: 14: 13: 10: 9: 6: 4: 3: 2: 5577: 5566: 5563: 5561: 5558: 5557: 5555: 5540: 5537: 5535: 5532: 5530: 5527: 5525: 5522: 5520: 5517: 5515: 5512: 5510: 5507: 5505: 5502: 5500: 5497: 5495: 5492: 5490: 5487: 5486: 5484: 5480: 5470: 5469:Social credit 5467: 5465: 5462: 5460: 5457: 5455: 5452: 5450: 5447: 5445: 5444:Structuralist 5442: 5440: 5437: 5435: 5432: 5430: 5427: 5425: 5424:Public choice 5422: 5420: 5417: 5415: 5412: 5410: 5407: 5403: 5400: 5398: 5395: 5394: 5393: 5392:New classical 5390: 5388: 5387:Neoliberalism 5385: 5383: 5380: 5378: 5377:Neo-Ricardian 5375: 5373: 5370: 5368: 5365: 5361: 5358: 5357: 5356: 5353: 5347: 5344: 5342: 5339: 5338: 5337: 5334: 5332: 5329: 5325: 5322: 5321: 5320: 5317: 5316: 5315: 5312: 5310: 5309:Institutional 5307: 5305: 5302: 5300: 5297: 5295: 5292: 5290: 5287: 5285: 5282: 5280: 5277: 5275: 5272: 5270: 5267: 5263: 5260: 5259: 5258: 5255: 5253: 5250: 5248: 5245: 5243: 5240: 5238: 5235: 5234: 5232: 5224: 5218: 5215: 5211: 5208: 5207: 5206: 5203: 5201: 5198: 5196: 5193: 5191: 5188: 5186: 5183: 5181: 5178: 5176: 5173: 5171: 5168: 5166: 5163: 5161: 5158: 5156: 5153: 5151: 5148: 5144: 5141: 5140: 5139: 5136: 5134: 5131: 5129: 5126: 5124: 5121: 5120: 5118: 5116: 5112: 5106: 5103: 5101: 5098: 5096: 5093: 5091: 5088: 5087: 5085: 5083: 5079: 5076: 5072: 5066: 5065:Scholasticism 5063: 5061: 5058: 5056: 5053: 5052: 5050: 5046: 5042: 5035: 5030: 5028: 5023: 5021: 5016: 5015: 5012: 5000: 4997: 4995: 4992: 4990: 4987: 4985: 4982: 4980: 4979:William Petty 4977: 4975: 4972: 4970: 4967: 4965: 4962: 4960: 4957: 4955: 4952: 4950: 4947: 4945: 4944:Antonio Serra 4942: 4941: 4938: 4934: 4932:Mercantilists 4931: 4925: 4920: 4918: 4913: 4911: 4906: 4905: 4902: 4896: 4891: 4887: 4886: 4881: 4880: 4877: 4873: 4870: 4869: 4866:Thomas Mun's 4864: 4863: 4859: 4853: 4848: 4845: 4839: 4835: 4830: 4827: 4821: 4817: 4812: 4809: 4803: 4799: 4794: 4791: 4785: 4781: 4776: 4772: 4768: 4764: 4758: 4754: 4750: 4746: 4742: 4738: 4734: 4730: 4726: 4722: 4713: 4709: 4708: 4703: 4699: 4696: 4692: 4688: 4684: 4680: 4676: 4672: 4668: 4664: 4660: 4656: 4655: 4649: 4646: 4642: 4638: 4635: 4630: 4627: 4621: 4617: 4612: 4609: 4603: 4599: 4594: 4591: 4585: 4581: 4577: 4573: 4570: 4564: 4560: 4556: 4551: 4548: 4542: 4538: 4533: 4530: 4524: 4520: 4515: 4512: 4506: 4502: 4497: 4493: 4487: 4483: 4479: 4475: 4471: 4466: 4463:on 2008-12-19 4462: 4458: 4457: 4452: 4448: 4444: 4440: 4435: 4432: 4428: 4424: 4420: 4416: 4411: 4408: 4402: 4398: 4394: 4390: 4386: 4381: 4379: 4375: 4373: 4368: 4365: 4360: 4357: 4351: 4347: 4342: 4339: 4333: 4329: 4324: 4321: 4315: 4311: 4310: 4305: 4301: 4298: 4292: 4288: 4283: 4280: 4274: 4270: 4265: 4262: 4256: 4252: 4251: 4245: 4241: 4237: 4233: 4229: 4225: 4221: 4218: 4214: 4210: 4207: 4203: 4199: 4198: 4194: 4188:, p. 64. 4187: 4182: 4179: 4176:, p. 43. 4175: 4174:Rothbard 1997 4170: 4167: 4163: 4158: 4155: 4151: 4146: 4143: 4139: 4134: 4131: 4127: 4126:Markwell 2006 4121: 4118: 4114: 4109: 4106: 4102: 4097: 4094: 4090: 4085: 4082: 4078: 4073: 4070: 4067:, p. 54. 4066: 4061: 4058: 4055:, p. 53. 4054: 4048: 4045: 4042:, p. 43. 4041: 4036: 4033: 4028: 4022: 4018: 4011: 4008: 4004: 3999: 3996: 3993:, p. 53. 3992: 3987: 3984: 3980: 3975: 3972: 3969:, p. 10. 3968: 3963: 3960: 3957:, p. 43. 3956: 3951: 3948: 3945:, p. 19. 3944: 3939: 3937: 3933: 3930:, p. 61. 3929: 3924: 3921: 3916: 3912: 3906: 3903: 3898: 3892: 3888: 3881: 3878: 3874: 3868: 3866: 3862: 3858: 3852: 3850: 3846: 3841: 3837: 3836: 3828: 3825: 3821: 3816: 3813: 3808: 3804: 3797: 3794: 3791:, p. 15. 3790: 3785: 3782: 3777: 3771: 3767: 3766: 3758: 3756: 3752: 3749: 3747: 3743:Max Savelle, 3740: 3738: 3734: 3731:, p. 54. 3730: 3725: 3722: 3719:, p. 32. 3718: 3713: 3710: 3707:, p. 65. 3706: 3701: 3698: 3694: 3693:Williams 1999 3689: 3687: 3683: 3680:, p. 29. 3679: 3674: 3671: 3668:, p. 36. 3667: 3662: 3659: 3656:, p. 31. 3655: 3650: 3647: 3644:, p. 48. 3643: 3638: 3635: 3631: 3626: 3623: 3619: 3614: 3611: 3608:, p. 44. 3607: 3602: 3599: 3595: 3590: 3587: 3584:, p. 50. 3583: 3578: 3575: 3571: 3567: 3563: 3558: 3555: 3552:, p. 46. 3551: 3546: 3544: 3542: 3538: 3534: 3532: 3531:David Ricardo 3528: 3524: 3523:James Steuart 3520: 3507: 3500: 3493: 3490: 3485: 3479: 3475: 3471: 3465: 3462: 3457: 3451: 3447: 3440: 3437: 3432: 3426: 3422: 3418: 3417: 3409: 3406: 3402: 3396: 3393: 3389: 3385: 3379: 3376: 3371: 3367: 3366: 3358: 3355: 3350: 3346: 3340: 3337: 3332: 3328: 3325:Pham, Peter. 3321: 3318: 3313: 3309: 3302: 3299: 3294: 3288: 3285: 3274: 3270: 3263: 3260: 3256: 3251: 3249: 3245: 3241: 3240: 3233: 3230: 3226: 3222: 3217: 3215: 3211: 3207: 3201: 3198: 3192: 3184: 3180: 3176: 3172: 3168: 3161: 3158: 3151: 3147: 3144: 3142: 3139: 3137: 3134: 3132: 3129: 3127: 3124: 3123: 3119: 3117: 3115: 3111: 3106: 3102: 3099: 3093: 3091: 3087: 3083: 3081: 3077: 3073: 3069: 3065: 3064: 3059: 3055: 3050: 3048: 3044: 3042: 3038: 3037:protectionism 3033: 3031: 3027: 3023: 3018: 3014: 3005: 3003: 3001: 2997: 2993: 2992:laissez-faire 2988: 2986: 2980: 2978: 2974: 2973: 2966: 2964: 2960: 2954: 2947: 2946: 2941: 2936: 2932: 2930: 2929:David Ricardo 2926: 2922: 2918: 2914: 2913: 2907: 2905: 2901: 2896: 2892: 2888: 2887:Edward Gibbon 2884: 2880: 2873: 2871: 2868: 2867:Walter Rodney 2864: 2860: 2856: 2855:David Ricardo 2852: 2851: 2846: 2842: 2838: 2836: 2832: 2828: 2824: 2823:Thomas Hobbes 2820: 2816: 2815: 2814:raison d'état 2810: 2807: 2806:Machiavellian 2803: 2799: 2794: 2791: 2786: 2785:nation-states 2782: 2777: 2773: 2771: 2766: 2762: 2759: 2755: 2750: 2748: 2744: 2739: 2737: 2733: 2729: 2725: 2721: 2709: 2704: 2702: 2697: 2695: 2690: 2689: 2687: 2686: 2681: 2676: 2671: 2669: 2664: 2659: 2658: 2657: 2656: 2649: 2646: 2644: 2641: 2639: 2636: 2634: 2631: 2629: 2626: 2624: 2623:Neoliberalism 2621: 2619: 2616: 2614: 2611: 2609: 2606: 2604: 2601: 2599: 2596: 2594: 2591: 2589: 2586: 2584: 2581: 2579: 2576: 2574: 2571: 2569: 2568:Authoritarian 2566: 2564: 2561: 2560: 2554: 2553: 2546: 2543: 2541: 2538: 2536: 2533: 2531: 2528: 2526: 2523: 2521: 2518: 2516: 2513: 2511: 2508: 2506: 2503: 2501: 2498: 2496: 2495:Globalization 2493: 2491: 2488: 2486: 2483: 2481: 2478: 2476: 2473: 2471: 2468: 2466: 2463: 2461: 2458: 2456: 2455:Crisis theory 2453: 2451: 2448: 2446: 2443: 2441: 2438: 2436: 2433: 2431: 2428: 2427: 2421: 2420: 2413: 2410: 2408: 2405: 2403: 2400: 2398: 2395: 2393: 2390: 2388: 2385: 2383: 2380: 2378: 2375: 2373: 2370: 2368: 2365: 2363: 2360: 2358: 2355: 2353: 2350: 2348: 2345: 2343: 2340: 2338: 2335: 2333: 2330: 2328: 2325: 2323: 2320: 2318: 2315: 2314: 2311:Intellectuals 2308: 2307: 2300: 2299:Technological 2297: 2295: 2292: 2290: 2287: 2285: 2282: 2280: 2277: 2275: 2272: 2270: 2267: 2265: 2262: 2260: 2257: 2255: 2252: 2250: 2247: 2245: 2242: 2240: 2237: 2235: 2232: 2230: 2227: 2226: 2220: 2219: 2212: 2209: 2207: 2204: 2202: 2199: 2197: 2194: 2192: 2189: 2187: 2184: 2182: 2179: 2177: 2174: 2172: 2169: 2168: 2162: 2161: 2154: 2151: 2149: 2146: 2144: 2141: 2139: 2136: 2134: 2131: 2129: 2126: 2124: 2121: 2119: 2116: 2112: 2109: 2107: 2104: 2102: 2099: 2098: 2097: 2094: 2092: 2091:Institutional 2089: 2087: 2084: 2082: 2079: 2075: 2072: 2071: 2070: 2067: 2065: 2062: 2060: 2057: 2056: 2050: 2049: 2042: 2039: 2037: 2034: 2032: 2029: 2027: 2024: 2022: 2019: 2017: 2014: 2012: 2009: 2007: 2004: 2002: 1999: 1997: 1994: 1992: 1989: 1987: 1984: 1982: 1979: 1977: 1974: 1972: 1969: 1967: 1964: 1962: 1959: 1957: 1954: 1952: 1951: 1950:Laissez-faire 1947: 1945: 1942: 1940: 1937: 1935: 1932: 1930: 1927: 1925: 1924:Authoritarian 1922: 1920: 1917: 1916: 1910: 1909: 1902: 1899: 1897: 1894: 1892: 1891:Surplus value 1889: 1887: 1884: 1882: 1879: 1877: 1874: 1872: 1871:Privatization 1869: 1867: 1864: 1862: 1859: 1857: 1854: 1852: 1849: 1847: 1844: 1842: 1839: 1837: 1834: 1832: 1829: 1827: 1824: 1822: 1819: 1817: 1814: 1812: 1809: 1807: 1804: 1802: 1799: 1797: 1794: 1792: 1789: 1787: 1784: 1782: 1779: 1777: 1774: 1772: 1769: 1767: 1764: 1762: 1759: 1757: 1754: 1752: 1749: 1747: 1744: 1742: 1739: 1738: 1732: 1731: 1728: 1724: 1720: 1716: 1715: 1709: 1707: 1705: 1699: 1695: 1693: 1688: 1686: 1681: 1679: 1675: 1671: 1666: 1661: 1659: 1655: 1646: 1644: 1642: 1638: 1634: 1630: 1626: 1621: 1619: 1615: 1609: 1607: 1603: 1598: 1595:The Habsburg 1593: 1591: 1587: 1583: 1579: 1570: 1566: 1561: 1554: 1552: 1550: 1546: 1542: 1536: 1534: 1530: 1526: 1522: 1516: 1514: 1505: 1500: 1496: 1494: 1490: 1487:, limited by 1486: 1482: 1478: 1474: 1470: 1464: 1456: 1454: 1452: 1448: 1442: 1434: 1432: 1428: 1426: 1422: 1417: 1415: 1411: 1403: 1398: 1393: 1385: 1380: 1376: 1373: 1370: 1367: 1364: 1361: 1357: 1354: 1351: 1347: 1344: 1341: 1337: 1336: 1335: 1332: 1325: 1323: 1321: 1317: 1313: 1308: 1306: 1305:lower classes 1302: 1298: 1294: 1290: 1289:black markets 1286: 1282: 1278: 1272: 1270: 1269:zero-sum game 1266: 1261: 1253: 1250: 1247: 1244: 1241: 1238: 1235: 1232: 1229: 1228: 1227: 1225: 1221: 1217: 1212: 1210: 1206: 1202: 1198: 1197:Antonio Serra 1194: 1189: 1187: 1183: 1182:James Steuart 1179: 1175: 1170: 1168: 1155: 1150: 1148: 1143: 1141: 1136: 1135: 1133: 1132: 1127: 1122: 1117: 1116: 1115: 1114: 1107: 1104: 1102: 1099: 1097: 1094: 1092: 1089: 1087: 1084: 1082: 1081:Post-scarcity 1079: 1077: 1074: 1072: 1069: 1067: 1064: 1062: 1059: 1057: 1054: 1052: 1049: 1047: 1044: 1042: 1039: 1037: 1034: 1032: 1029: 1027: 1026:Expeditionary 1024: 1022: 1019: 1018: 1012: 1011: 1002: 999: 997: 994: 992: 989: 988: 987: 984: 982: 979: 975: 972: 970: 967: 965: 962: 960: 957: 956: 955: 952: 948: 945: 943: 940: 938: 935: 934: 933: 930: 928: 925: 924: 918: 917: 908: 905: 904: 903: 902:Socialization 900: 898: 897:Privatization 895: 893: 890: 888: 887:Mutualization 885: 883: 880: 878: 877:Marketization 875: 873: 870: 868: 865: 863: 862:Expropriation 860: 858: 855: 853: 850: 848: 845: 843: 842:Communization 840: 838: 835: 834: 828: 827: 820: 817: 815: 812: 810: 807: 804: 800: 797: 795: 792: 791: 785: 784: 777: 774: 772: 769: 767: 764: 762: 759: 758: 752: 751: 742: 739: 738: 736: 732: 729: 727: 724: 722: 719: 717: 714: 712: 709: 707: 704: 703: 701: 697: 694: 692: 689: 687: 684: 682: 679: 678: 676: 675: 669: 668: 661: 658: 656: 653: 651: 648: 646: 643: 641: 638: 636: 633: 631: 628: 626: 623: 621: 618: 616: 613: 611: 608: 606: 603: 601: 598: 596: 593: 591: 588: 586: 583: 581: 580:Decentralized 578: 576: 573: 572: 566: 565: 556: 553: 551: 548: 547: 545: 543: 540: 538: 537:Social credit 535: 533: 530: 526: 523: 521: 518: 516: 513: 511: 508: 506: 505:Participatory 503: 501: 498: 496: 493: 491: 488: 486: 483: 482: 481: 478: 474: 471: 467: 464: 463: 462: 459: 457: 454: 453: 451: 449: 446: 444: 441: 439: 436: 434: 431: 429: 426: 422: 419: 417: 416:Social market 414: 412: 411:Protectionist 409: 407: 404: 402: 399: 397: 394: 392: 391:Laissez-faire 389: 387: 384: 382: 379: 378: 377: 374: 372: 369: 368: 362: 361: 355: 352: 350: 347: 345: 342: 341: 336: 335: 332: 328: 324: 320: 319: 313: 311: 309: 305: 301: 297: 293: 289: 285: 284:British India 281: 280:Mughal Bengal 277: 272: 269: 265: 261: 257: 252: 243: 239: 235: 227: 222: 220: 216: 212: 208: 203: 201: 197: 193: 189: 185: 181: 176: 174: 170: 169:Antonio Serra 166: 162: 158: 154: 150: 146: 142: 138: 131: 128:Merchants in 126: 119: 117: 115: 111: 107: 102: 100: 96: 92: 87: 85: 81: 77: 73: 69: 64: 62: 58: 54: 51: 47: 40: 36: 32: 19: 5560:Mercantilism 5294:Evolutionary 5226:Contemporary 5205:Neoclassical 5150:Distributist 5095:Mercantilism 5094: 5082:Early modern 4974:Josiah Child 4930: 4894: 4883: 4867: 4852:Mercantilism 4851: 4833: 4815: 4797: 4779: 4736: 4715:, retrieved 4706: 4670: 4666: 4653: 4640: 4633: 4615: 4597: 4579: 4554: 4536: 4518: 4500: 4477: 4461:the original 4455: 4438: 4422: 4418: 4396: 4385:Mercantilism 4384: 4370: 4363: 4345: 4327: 4308: 4286: 4268: 4249: 4239: 4227: 4216: 4205: 4181: 4169: 4157: 4145: 4140:, p. 3. 4133: 4120: 4108: 4096: 4091:, p. 6. 4084: 4072: 4060: 4047: 4035: 4016: 4010: 4003:Spiegel 1991 3998: 3986: 3974: 3962: 3950: 3943:Niehans 1990 3923: 3914: 3905: 3886: 3880: 3872: 3856: 3834: 3827: 3820:Spiegel 1991 3815: 3806: 3796: 3784: 3764: 3745: 3724: 3712: 3700: 3673: 3661: 3649: 3637: 3632:, p. 9. 3625: 3613: 3601: 3589: 3577: 3569: 3565: 3557: 3516: 3509:. Retrieved 3505: 3492: 3473: 3464: 3445: 3439: 3415: 3408: 3400: 3395: 3386:; quoted in 3378: 3364: 3357: 3348: 3339: 3330: 3320: 3311: 3301: 3287: 3276:. Retrieved 3272: 3262: 3237: 3232: 3224: 3205: 3200: 3182: 3170: 3166: 3160: 3107: 3104: 3101:discouraged. 3095: 3084: 3080:World War II 3061: 3051: 3045: 3034: 3013:rent seeking 3009: 2989: 2981: 2970: 2967: 2955: 2951: 2943: 2910: 2908: 2900:Dudley North 2877: 2848: 2839: 2812: 2795: 2778: 2774: 2763: 2758:rent-seeking 2751: 2740: 2717: 2545:Wage slavery 2485:Evergreening 2196:Mercantilism 2195: 2143:Neoclassical 1971:Mercantilist 1970: 1948: 1881:Rent seeking 1846:Visible hand 1700: 1696: 1689: 1682: 1662: 1650: 1622: 1610: 1594: 1574: 1537: 1517: 1509: 1466: 1444: 1429: 1418: 1407: 1350:staple ports 1333: 1329: 1309: 1273: 1265:rent-seeking 1257: 1223: 1213: 1190: 1185: 1177: 1171: 1163: 991:Peer-to-peer 986:Self-managed 921:Coordination 857:Deregulation 542:Distributist 396:Mercantilist 395: 278:annexed the 273: 253: 242:Josiah Child 237: 223: 210: 204: 177: 172: 134: 103: 88: 65: 46:Mercantilism 45: 44: 34: 18:Mercantilist 5449:Supply-side 5372:Neo-Marxian 5185:Marginalism 5115:Late modern 5100:Physiocrats 4600:, Praeger, 4330:, Xlibris, 4186:Hansen 2001 4138:Wilson 1963 4113:Harris 1950 4101:Brezis 2003 4089:Wilson 1963 3967:Wilson 1963 3789:Wilson 1963 3729:Nester 2000 3705:Hansen 2001 3654:Landes 1997 3175:comparative 3070:wrote that 3022:paper money 2963:Jacob Viner 2809:realpolitik 2770:paper money 2743:Jacob Viner 2628:Objectivism 2613:Libertarian 2530:Speculation 2450:Consumerism 2284:Progressive 2223:Development 2206:Physiocracy 2153:Supply-side 1961:Libertarian 1939:Free-market 1919:Anglo-Saxon 1901:Wage labour 1856:Marginalism 1826:Free market 1781:Corporation 1665:imperialism 1320:physiocracy 1301:consumption 1297:subsistence 1096:Traditional 1046:Manorialism 1041:Information 1015:Other types 1001:Open access 964:Cybernetics 706:Anglo-Saxon 691:Singaporean 650:Underground 645:Subsistence 550:Corporatist 525:Syndicalist 485:Communalist 371:Associative 365:By ideology 338:Major types 304:Robert Peel 165:Renaissance 137:Renaissance 50:nationalist 5554:Categories 5429:Regulation 5355:Monetarism 5341:Circuitism 5289:Ecological 5257:Chartalism 5237:Behavioral 5180:Manchester 5175:Malthusian 5133:Birmingham 5090:Cameralism 5074:Modern era 5048:Pre-modern 4964:Jean Bodin 4959:Thomas Mun 4717:2007-12-06 3527:David Hume 3278:2018-09-11 3193:References 3171:better off 2940:Adam Smith 2904:John Locke 2883:David Hume 2879:Adam Smith 2863:free trade 2845:Adam Smith 2798:scholastic 2765:Monetarism 2720:Adam Smith 2608:Liberalism 2593:Humanistic 2578:Democratic 2557:Ideologies 2392:Schumpeter 2138:Monetarist 2069:Chartalism 2016:Regulatory 1991:Neoliberal 1944:Humanistic 1727:Capitalism 1704:Trade wars 1513:Royal Navy 1489:common law 1447:New France 1435:New France 1425:Colbertism 1392:Colbertism 1281:monopolies 1260:Adam Smith 1220:Cameralism 1201:Jean Bodin 1174:Thomas Mun 1101:Transition 1061:Plantation 969:Indicative 831:Transition 681:East Asian 452:Religious 428:Democratic 401:Neoliberal 386:Democratic 376:Capitalist 344:Capitalism 308:free trade 288:Adam Smith 268:Colbertism 234:Thomas Mun 188:Fiat money 180:bullionism 161:empiricism 5504:Economics 5439:Stockholm 5314:Keynesian 5279:Cracovian 5228:(20th and 5217:Socialist 5200:Mutualism 5143:Ricardian 5138:Classical 4771:750831024 4695:154149792 4395:(1980) , 3717:Hill 1980 3390:, p. 204. 2648:Third Way 2638:Privatism 2598:Inclusive 2583:Dirigisme 2377:von Mises 2264:Illiberal 2244:Corporate 2239:Community 2186:Feudalism 2096:Keynesian 2086:Classical 1929:Corporate 1741:Austerity 1633:Ibrahim I 1616:from the 1485:Continent 1209:Misselden 1066:Plutonomy 947:Regulated 776:Voluntary 702:European 555:Feudalism 500:Mutualist 490:Communist 480:Socialist 461:Christian 381:Corporate 354:Communism 349:Socialism 300:Corn Laws 240:), which 61:one-sided 57:resources 5529:Degrowth 5464:Virginia 5304:Freiburg 5299:Feminist 5252:Carnegie 5242:Buddhist 5210:Lausanne 5165:Georgism 5128:Austrian 4872:Archived 4727:(2008). 4712:Newsweek 4578:(2006), 4449:(1936), 4425:: 1–17, 4306:(1987), 4204:(1996), 4005:, ch. 8. 3521:and Sir 3519:John Law 3472:(1998). 3120:See also 3063:Newsweek 2938:Much of 2891:Voltaire 2724:Mirabeau 2475:Cronyism 2387:Rothbard 2362:Marshall 2347:Friedman 2279:Merchant 2234:Consumer 2229:Advanced 2064:Austrian 2059:American 1986:National 1981:Monopoly 1934:Dirigist 1836:Investor 1746:Business 1735:Concepts 1719:a series 1717:Part of 1685:colonies 1656:and the 1625:Philip V 1549:The Fens 1414:Flanders 1326:Policies 954:Planning 605:Informal 590:Dirigist 443:Georgist 438:Feminist 323:a series 321:Part of 296:Napoleon 139:and the 63:trade. 5482:Related 5269:Chicago 4735:(ed.). 4687:1928178 4641:History 4476:(ed.). 3511:14 June 3312:Reuters 3126:Autarky 3098:statism 2827:Puritan 2603:Liberal 2563:Anarcho 2500:History 2332:Malthus 2327:Ricardo 2289:Rentier 2274:Marxist 2254:Finance 2165:Origins 2133:Marxist 2081:Chicago 2041:Welfare 2001:Private 1956:Liberal 1776:Company 1761:Capital 1710:Origins 1672:or the 1641:Peter I 1602:Prussia 1340:tariffs 1312:markets 1205:Colbert 996:Sharing 959:In kind 907:Marxist 799:Commons 766:Private 755:Sectors 726:Rhenish 696:Keralan 686:Chinese 660:Virtual 640:Sharing 630:Planned 620:Natural 585:Digital 473:Islamic 433:Fascist 421:Welfare 163:of the 157:bullion 120:History 91:tariffs 5360:Market 4840: 4822: 4804: 4786: 4769: 4759: 4693: 4685: 4645:online 4622: 4604: 4586: 4565: 4543: 4525: 4507: 4488: 4403: 4378:online 4352: 4334: 4316: 4293: 4275: 4257: 4023: 3893: 3772: 3480: 3452: 3427: 3331:Forbes 3242:(2008) 3208:p. 37. 3006:Legacy 2781:feudal 2722:, but 2402:Weaver 2397:Veblen 2372:Walras 2367:Pareto 2357:Keynes 2259:Global 2026:Social 1996:Nordic 1966:Market 1876:Profit 1678:Canada 1639:under 1637:Russia 1588:, and 1477:Stuart 1386:France 1316:armies 1285:quotas 1167:German 1056:Palace 932:Market 927:Barter 771:Public 731:Soviet 716:Nordic 711:German 677:Asian 610:Market 314:Theory 302:under 262:, his 196:specie 151:, and 145:Venice 130:Venice 5336:Post- 4731:. In 4691:S2CID 4683:JSTOR 4472:. In 3502:(PDF) 3152:Notes 3072:China 2412:Coase 2407:Weber 2352:Hayek 2317:Smith 2249:Crony 2111:Post- 2031:State 2021:Rhine 1976:Mixed 1896:Value 1861:Money 1473:Tudor 1410:Spain 1338:High 1106:World 1091:Token 981:Price 721:Dutch 615:Mixed 520:State 448:Green 149:Genoa 48:is a 5319:Neo- 4838:ISBN 4820:ISBN 4802:ISBN 4784:ISBN 4767:OCLC 4757:ISBN 4741:Sage 4620:ISBN 4602:ISBN 4584:ISBN 4563:ISBN 4541:ISBN 4523:ISBN 4505:ISBN 4486:ISBN 4401:ISBN 4350:ISBN 4332:ISBN 4314:ISBN 4291:ISBN 4273:ISBN 4255:ISBN 4124:See 4021:ISBN 3891:ISBN 3842:–37. 3770:ISBN 3529:and 3513:2018 3478:ISBN 3450:ISBN 3425:ISBN 3349:PIIE 3167:both 2923:and 2902:and 2893:and 2734:and 2382:Rand 2342:Marx 2322:Mill 2269:Late 2101:Neo- 1502:The 1475:and 1314:and 1203:and 942:Open 937:Free 625:Open 600:Gift 595:Dual 190:and 153:Pisa 5331:New 4888:at 4749:doi 4675:doi 4427:doi 3370:265 3183:not 3177:or 2942:'s 2817:in 2618:Neo 2588:Eco 2337:Say 2106:New 2074:MMT 2006:Raw 1680:). 1184:'s 230:fl. 5556:: 4765:. 4755:. 4743:; 4710:, 4689:, 4681:, 4671:46 4669:, 4561:, 4453:, 4423:42 4421:, 4417:, 4238:, 3935:^ 3913:. 3864:^ 3848:^ 3840:35 3805:. 3754:^ 3736:^ 3685:^ 3540:^ 3515:. 3504:. 3419:. 3347:. 3329:. 3310:. 3271:. 3247:^ 3223:, 3213:^ 3043:. 3015:. 2987:. 2889:, 2885:, 2881:, 2837:. 2738:. 2730:: 1721:on 1635:. 1584:, 1551:. 1535:. 325:on 246:c. 186:. 175:. 147:, 116:. 101:. 5033:e 5026:t 5019:v 4923:e 4916:t 4909:v 4773:. 4751:: 4677:: 4494:. 4429:: 4374:, 4164:. 4152:. 4128:. 4079:. 4029:. 3899:. 3809:. 3778:. 3533:. 3486:. 3458:. 3433:. 3372:. 3333:. 3281:. 3257:. 2707:e 2700:t 2693:v 1381:. 1362:. 1352:. 1153:e 1146:t 1139:v 805:) 801:( 244:( 228:( 20:)

Text is available under the Creative Commons Attribution-ShareAlike License. Additional terms may apply.

Index