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    Mercantilism - Wikipedia

    • Mercantilism is a nationalist economic policy that is designed to maximize the exports and minimize the imports for an economy. In other words, it seeks to maximize the accumulation of resources within the country and use those resources for one-sided trade. The concept aims to reduce a possible current account deficit or reach a current account surplu… See more

    History

    Mercantilism became the dominant school of economic thought in Europe throughout the late Renaissance and the
    Mercantilism … See more

    Theory

    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 quic… See more

    Policies

    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, an… See more

    Wars and imperialism

    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 trad… See more

    Origins

    The term "mercantile system" was used by its foremost critic, Adam Smith, but Mirabeau (1715–1789) had used "mercantilism" earlier. Mercantilism functioned as the economic counterpart of the older v… See more

    End of mercantilism

    Adam Smith, David Hume, Edward Gibbon, Voltaire and Jean-Jacques Rousseau were the founding fathers of anti-mercantilist thought. A number of scholars found important flaws with mercantilism long before Smit… See more

    Legacy

    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 i… See more

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