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.
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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.
Now that he's moved on, the mercantilists are clearly in charge.
Liberal free traders emphasize consumption, while mercantilists emphasize production.
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.
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.
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.
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.
By taking full responsibility for Asian security, we are subsidizing the very mercantilists whose competitive inroads we're trying to reverse.
They begin with early mercantilists as a lead up to Adam Smith, where they place the genesis of economic thought.
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.
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.
Mercantilists' and governors' and preachers' alike The