mercantilism

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mercantilism

a set of economic ideas and policies that became established in England during the 17th century, accompanying the rise of commercial capitalism. The mercantilists stressed the importance of trade and commerce as the source of the nation's wealth, and advocated policies to increase a nation's wealth and power by encouraging exports and discouraging imports in order to allow the country to amass quantities of GOLD. These protectionist ideas (see PROTECTIONISM) were criticized by later classical economists like Adam SMITH.
References in periodicals archive ?
The implication of his carefully crafted fallacy and prejudice, disguised as an objective analysis of cultural human behavior in economics, is that both the Mercantilists and the Classicists have the same economic rules, and that the East Asian countries have become dynamic and fast-growing economies because they had violated these rules.
The need to understand economics
Now that he's moved on, the mercantilists are clearly in charge.
Trump's Exports-Good, Imports-Bad Trade Policy, Debunked By An Economist
Liberal free traders emphasize consumption, while mercantilists emphasize production.
Trade Secrets: How economists kept their doubts about globalization quiet, and ushered in Trump
As countries increasingly vie to achieve the highest levels of innovation-based economic growth and to attract, grow, and scale the innovative enterprises of the future, an increasing number have turned to "innovation mercantilist" policies that come at the expense of competitor nations and the detriment of global innovation.
The rise of innovation mercantilism: and the threat to the global economy
Admittedly Mun and the other mercantilists held some naive arguments, due partly to the improper way of expressing themselves, partly to the fact that their economic categories were still elementary.
Thomas Mun's England's Treasure by Forraign Trade: the 17th-century manifesto for economic development
Unlike the mercantilists who viewed money as wealth, Cantillon showed that an increase in the quantity of money had both seemingly beneficial effects as well as dangerous negative effects.
How entrepreneurship theory created economics
Then we could be the innovation leaders."But there is no reason to think that mercantilists won't turn their sights on European leadership, just as they have done on American supremacy.
Building the global innovation economy
By taking full responsibility for Asian security, we are subsidizing the very mercantilists whose competitive inroads we're trying to reverse.
The Pacific Pivot
They begin with early mercantilists as a lead up to Adam Smith, where they place the genesis of economic thought.
History of economic thought; a critical perspective, 3d ed
A favored practice of innovation mercantilists is to force foreign companies to accept IP, technology transfer, or domestic sourcing of production requirements as a condition of market access.
Fighting innovation mercantilism: a growing number of countries have adopted beggar-thy-neighbor innovation policies in an effort to attract or grow high-wage industries and jobs, making the global economy less prosperous in the process
Physiocrats and Newton's "Natural Order" opinion became a source of inspiration and opinions of mercantilists provided him to bring about a critical alternative approach.
Adam Smith's conceptual contributions to international economics: based on the Wealth of Nations
Mercantilists' and governors' and preachers' alike The
Letter to GC
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