Mercantilism
Mercantilism
How do you develop a successful government that will please an entire nation? Since colonization the United States has been a country in pursuit of economic dominance over nation states. Mercantilism, liberalism, and structuralism have at some point in time been used to accomplish this goal of subjugated national welfare. These philosophies can be thought of as blueprints by which the state operates and from which its policy emanates, always changing across nations never truly in a state of agreement. Although there are many differences between international economic policy, without fundamental views such as mercantilism, liberalism, and structuralism humanity would quickly devolve into erratic economic policy. Which analysis of IPE is better than the other is up for debate, but there is a strong belief that mercantilism in the 1600’s and 1700’s was successful and mercantilism should be reincorporated into our governmental system today.
Mercantilism has strong historical roots in British government. It was the predominant school of economic thought throughout two centuries, spanning the 1500s to the 1700s. Adam Smith was the first to use the term Mercantile System, defined as a system based on the government actively fostering economic policies of protectionism that would promote export and discourage imports, so as to enhance capital. The intent is to maintain a positive balance of trade by facilitating the influx of gold and silver (bullion), the origin at that time for measuring the wealth of a nation. It was during this era of mercantilism that much of what constitutes modern capitalism was instituted, as witnessed by the economic policies of government intervention and control. Historically it was a system that benefited the merchants and manufacturers since they enjoyed state protection and support. For example, capital for new businesses would come from the state, as would exemptions from taxes. The state would also reward high yield
How do you develop a successful government that will please an entire nation? Since colonization the United States has been a country in pursuit of economic dominance over nation states. Mercantilism, liberalism, and structuralism have at some point in time been used to accomplish this goal of subjugated national welfare. These philosophies can be thought of as blueprints by which the state operates and from which its policy emanates, always changing across nations never truly in a state of agreement. Although there are many differences between international economic policy, without fundamental views such as mercantilism, liberalism, and structuralism humanity would quickly devolve into erratic economic policy. Which analysis of IPE is better than the other is up for debate, but there is a strong belief that mercantilism in the 1600’s and 1700’s was successful and mercantilism should be reincorporated into our governmental system today.
Mercantilism has strong historical roots in British government. It was the predominant school of economic thought throughout two centuries, spanning the 1500s to the 1700s. Adam Smith was the first to use the term Mercantile System, defined as a system based on the government actively fostering economic policies of protectionism that would promote export and discourage imports, so as to enhance capital. The intent is to maintain a positive balance of trade by facilitating the influx of gold and silver (bullion), the origin at that time for measuring the wealth of a nation. It was during this era of mercantilism that much of what constitutes modern capitalism was instituted, as witnessed by the economic policies of government intervention and control. Historically it was a system that benefited the merchants and manufacturers since they enjoyed state protection and support. For example, capital for new businesses would come from the state, as would exemptions from taxes. The state would also reward high yield