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</div> </a> <ul id="toc-Theory-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Policies" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#Policies"> <div class="vector-toc-text"> <span class="vector-toc-numb">3</span> <span>Policies</span> </div> </a> <button aria-controls="toc-Policies-sublist" class="cdx-button cdx-button--weight-quiet cdx-button--icon-only vector-toc-toggle"> <span class="vector-icon mw-ui-icon-wikimedia-expand"></span> <span>Toggle Policies subsection</span> </button> <ul id="toc-Policies-sublist" class="vector-toc-list"> <li id="toc-France" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#France"> <div class="vector-toc-text"> <span class="vector-toc-numb">3.1</span> <span>France</span> </div> </a> <ul id="toc-France-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-New_France" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#New_France"> <div class="vector-toc-text"> <span class="vector-toc-numb">3.2</span> <span>New France</span> </div> </a> <ul id="toc-New_France-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-United_Kingdom" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#United_Kingdom"> <div class="vector-toc-text"> <span class="vector-toc-numb">3.3</span> <span>United Kingdom</span> </div> </a> <ul id="toc-United_Kingdom-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Other_countries" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Other_countries"> <div class="vector-toc-text"> <span class="vector-toc-numb">3.4</span> <span>Other countries</span> </div> </a> <ul id="toc-Other_countries-sublist" class="vector-toc-list"> </ul> </li> </ul> </li> <li id="toc-Wars_and_imperialism" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#Wars_and_imperialism"> <div class="vector-toc-text"> <span class="vector-toc-numb">4</span> <span>Wars and imperialism</span> </div> </a> <ul id="toc-Wars_and_imperialism-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Origins" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#Origins"> <div class="vector-toc-text"> <span class="vector-toc-numb">5</span> <span>Origins</span> </div> </a> <ul id="toc-Origins-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-End_of_mercantilism" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#End_of_mercantilism"> <div class="vector-toc-text"> <span class="vector-toc-numb">6</span> <span>End of mercantilism</span> </div> </a> <ul id="toc-End_of_mercantilism-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Legacy" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#Legacy"> <div class="vector-toc-text"> <span class="vector-toc-numb">7</span> <span>Legacy</span> </div> </a> <ul id="toc-Legacy-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-See_also" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#See_also"> <div class="vector-toc-text"> <span class="vector-toc-numb">8</span> <span>See also</span> </div> </a> <ul id="toc-See_also-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Notes" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#Notes"> <div class="vector-toc-text"> <span class="vector-toc-numb">9</span> <span>Notes</span> </div> </a> <ul id="toc-Notes-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-References" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#References"> <div class="vector-toc-text"> <span class="vector-toc-numb">10</span> <span>References</span> </div> </a> <ul id="toc-References-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Further_reading" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#Further_reading"> <div class="vector-toc-text"> <span class="vector-toc-numb">11</span> <span>Further reading</span> </div> </a> <ul id="toc-Further_reading-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-External_links" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#External_links"> <div class="vector-toc-text"> <span class="vector-toc-numb">12</span> <span>External links</span> </div> </a> <ul id="toc-External_links-sublist" class="vector-toc-list"> </ul> </li> </ul> </div> </div> </nav> </div> </div> <div class="mw-content-container"> <main id="content" class="mw-body"> <header class="mw-body-header vector-page-titlebar"> <nav aria-label="Contents" class="vector-toc-landmark"> <div id="vector-page-titlebar-toc" class="vector-dropdown vector-page-titlebar-toc vector-button-flush-left" > <input type="checkbox" id="vector-page-titlebar-toc-checkbox" role="button" aria-haspopup="true" data-event-name="ui.dropdown-vector-page-titlebar-toc" class="vector-dropdown-checkbox " aria-label="Toggle the table of contents" > <label id="vector-page-titlebar-toc-label" for="vector-page-titlebar-toc-checkbox" class="vector-dropdown-label cdx-button cdx-button--fake-button cdx-button--fake-button--enabled cdx-button--weight-quiet cdx-button--icon-only " aria-hidden="true" ><span class="vector-icon mw-ui-icon-listBullet mw-ui-icon-wikimedia-listBullet"></span> <span class="vector-dropdown-label-text">Toggle the table of contents</span> </label> <div class="vector-dropdown-content"> <div id="vector-page-titlebar-toc-unpinned-container" class="vector-unpinned-container"> </div> </div> </div> </nav> <h1 id="firstHeading" class="firstHeading mw-first-heading"><span class="mw-page-title-main">Mercantilism</span></h1> <div id="p-lang-btn" class="vector-dropdown mw-portlet mw-portlet-lang" > <input type="checkbox" id="p-lang-btn-checkbox" role="button" aria-haspopup="true" data-event-name="ui.dropdown-p-lang-btn" class="vector-dropdown-checkbox mw-interlanguage-selector" aria-label="Go to an article in another language. Available in 72 languages" > <label id="p-lang-btn-label" for="p-lang-btn-checkbox" class="vector-dropdown-label cdx-button cdx-button--fake-button cdx-button--fake-button--enabled cdx-button--weight-quiet cdx-button--action-progressive mw-portlet-lang-heading-72" aria-hidden="true" ><span class="vector-icon mw-ui-icon-language-progressive mw-ui-icon-wikimedia-language-progressive"></span> <span class="vector-dropdown-label-text">72 languages</span> </label> <div class="vector-dropdown-content"> <div class="vector-menu-content"> <ul class="vector-menu-content-list"> <li class="interlanguage-link interwiki-als mw-list-item"><a href="https://als.wikipedia.org/wiki/Merkantilismus" title="Merkantilismus – Alemannic" lang="gsw" hreflang="gsw" data-title="Merkantilismus" data-language-autonym="Alemannisch" data-language-local-name="Alemannic" class="interlanguage-link-target"><span>Alemannisch</span></a></li><li class="interlanguage-link interwiki-ar mw-list-item"><a href="https://ar.wikipedia.org/wiki/%D8%A7%D8%AA%D8%AC%D8%A7%D8%B1%D9%8A%D8%A9" title="اتجارية – Arabic" lang="ar" hreflang="ar" data-title="اتجارية" data-language-autonym="العربية" data-language-local-name="Arabic" class="interlanguage-link-target"><span>العربية</span></a></li><li class="interlanguage-link interwiki-ast mw-list-item"><a href="https://ast.wikipedia.org/wiki/Mercantilismu" title="Mercantilismu – Asturian" lang="ast" hreflang="ast" data-title="Mercantilismu" data-language-autonym="Asturianu" data-language-local-name="Asturian" class="interlanguage-link-target"><span>Asturianu</span></a></li><li class="interlanguage-link interwiki-az mw-list-item"><a href="https://az.wikipedia.org/wiki/Merkantilizm" title="Merkantilizm – Azerbaijani" lang="az" hreflang="az" data-title="Merkantilizm" data-language-autonym="Azərbaycanca" data-language-local-name="Azerbaijani" class="interlanguage-link-target"><span>Azərbaycanca</span></a></li><li class="interlanguage-link interwiki-azb mw-list-item"><a href="https://azb.wikipedia.org/wiki/%D9%85%D8%B1%DA%A9%D8%A7%D9%86%D8%AA%D9%84%DB%8C%D8%B2%D9%85" title="مرکانتلیزم – South Azerbaijani" lang="azb" hreflang="azb" data-title="مرکانتلیزم" data-language-autonym="تۆرکجه" data-language-local-name="South Azerbaijani" class="interlanguage-link-target"><span>تۆرکجه</span></a></li><li class="interlanguage-link interwiki-zh-min-nan mw-list-item"><a href="https://zh-min-nan.wikipedia.org/wiki/Ti%C5%8Dng-siong-ch%C3%BA-g%C4%AB" title="Tiōng-siong-chú-gī – Minnan" lang="nan" hreflang="nan" data-title="Tiōng-siong-chú-gī" data-language-autonym="閩南語 / Bân-lâm-gú" data-language-local-name="Minnan" class="interlanguage-link-target"><span>閩南語 / Bân-lâm-gú</span></a></li><li class="interlanguage-link interwiki-be mw-list-item"><a href="https://be.wikipedia.org/wiki/%D0%9C%D0%B5%D1%80%D0%BA%D0%B0%D0%BD%D1%82%D1%8B%D0%BB%D1%96%D0%B7%D0%BC" title="Меркантылізм – Belarusian" lang="be" hreflang="be" data-title="Меркантылізм" data-language-autonym="Беларуская" data-language-local-name="Belarusian" class="interlanguage-link-target"><span>Беларуская</span></a></li><li class="interlanguage-link interwiki-be-x-old mw-list-item"><a href="https://be-tarask.wikipedia.org/wiki/%D0%9C%D1%8D%D1%80%D0%BA%D0%B0%D0%BD%D1%82%D1%8B%D0%BB%D1%96%D0%B7%D0%BC" title="Мэркантылізм – Belarusian (Taraškievica orthography)" lang="be-tarask" hreflang="be-tarask" data-title="Мэркантылізм" data-language-autonym="Беларуская (тарашкевіца)" data-language-local-name="Belarusian (Taraškievica orthography)" class="interlanguage-link-target"><span>Беларуская (тарашкевіца)</span></a></li><li class="interlanguage-link interwiki-bg mw-list-item"><a href="https://bg.wikipedia.org/wiki/%D0%9C%D0%B5%D1%80%D0%BA%D0%B0%D0%BD%D1%82%D0%B8%D0%BB%D0%B8%D0%B7%D1%8A%D0%BC" title="Меркантилизъм – Bulgarian" lang="bg" hreflang="bg" data-title="Меркантилизъм" data-language-autonym="Български" data-language-local-name="Bulgarian" class="interlanguage-link-target"><span>Български</span></a></li><li class="interlanguage-link interwiki-bs mw-list-item"><a href="https://bs.wikipedia.org/wiki/Merkantilizam" title="Merkantilizam – Bosnian" lang="bs" hreflang="bs" data-title="Merkantilizam" data-language-autonym="Bosanski" data-language-local-name="Bosnian" class="interlanguage-link-target"><span>Bosanski</span></a></li><li class="interlanguage-link interwiki-ca mw-list-item"><a href="https://ca.wikipedia.org/wiki/Mercantilisme" title="Mercantilisme – Catalan" lang="ca" hreflang="ca" data-title="Mercantilisme" data-language-autonym="Català" data-language-local-name="Catalan" class="interlanguage-link-target"><span>Català</span></a></li><li class="interlanguage-link interwiki-cs mw-list-item"><a href="https://cs.wikipedia.org/wiki/Merkantilismus" title="Merkantilismus – Czech" lang="cs" hreflang="cs" data-title="Merkantilismus" data-language-autonym="Čeština" data-language-local-name="Czech" class="interlanguage-link-target"><span>Čeština</span></a></li><li class="interlanguage-link interwiki-cy mw-list-item"><a href="https://cy.wikipedia.org/wiki/Mercantiliaeth" title="Mercantiliaeth – Welsh" lang="cy" hreflang="cy" data-title="Mercantiliaeth" data-language-autonym="Cymraeg" data-language-local-name="Welsh" class="interlanguage-link-target"><span>Cymraeg</span></a></li><li class="interlanguage-link interwiki-da mw-list-item"><a href="https://da.wikipedia.org/wiki/Merkantilisme" title="Merkantilisme – Danish" lang="da" hreflang="da" data-title="Merkantilisme" data-language-autonym="Dansk" data-language-local-name="Danish" class="interlanguage-link-target"><span>Dansk</span></a></li><li class="interlanguage-link interwiki-de badge-Q17437798 badge-goodarticle mw-list-item" title="good article badge"><a href="https://de.wikipedia.org/wiki/Merkantilismus" title="Merkantilismus – German" lang="de" hreflang="de" data-title="Merkantilismus" data-language-autonym="Deutsch" data-language-local-name="German" class="interlanguage-link-target"><span>Deutsch</span></a></li><li class="interlanguage-link interwiki-et mw-list-item"><a href="https://et.wikipedia.org/wiki/Merkantilism" title="Merkantilism – Estonian" lang="et" hreflang="et" data-title="Merkantilism" data-language-autonym="Eesti" data-language-local-name="Estonian" class="interlanguage-link-target"><span>Eesti</span></a></li><li class="interlanguage-link interwiki-el mw-list-item"><a href="https://el.wikipedia.org/wiki/%CE%95%CE%BC%CF%80%CE%BF%CF%81%CE%BF%CE%BA%CF%81%CE%B1%CF%84%CE%AF%CE%B1" title="Εμποροκρατία – Greek" lang="el" hreflang="el" data-title="Εμποροκρατία" data-language-autonym="Ελληνικά" data-language-local-name="Greek" class="interlanguage-link-target"><span>Ελληνικά</span></a></li><li class="interlanguage-link interwiki-es badge-Q17437796 badge-featuredarticle mw-list-item" title="featured article badge"><a href="https://es.wikipedia.org/wiki/Mercantilismo" title="Mercantilismo – Spanish" lang="es" hreflang="es" data-title="Mercantilismo" data-language-autonym="Español" data-language-local-name="Spanish" class="interlanguage-link-target"><span>Español</span></a></li><li class="interlanguage-link interwiki-eo mw-list-item"><a href="https://eo.wikipedia.org/wiki/Merkantilismo" title="Merkantilismo – Esperanto" lang="eo" hreflang="eo" data-title="Merkantilismo" data-language-autonym="Esperanto" data-language-local-name="Esperanto" class="interlanguage-link-target"><span>Esperanto</span></a></li><li class="interlanguage-link interwiki-eu mw-list-item"><a href="https://eu.wikipedia.org/wiki/Merkantilismo" title="Merkantilismo – Basque" lang="eu" hreflang="eu" data-title="Merkantilismo" data-language-autonym="Euskara" data-language-local-name="Basque" class="interlanguage-link-target"><span>Euskara</span></a></li><li class="interlanguage-link interwiki-fa mw-list-item"><a href="https://fa.wikipedia.org/wiki/%D8%B3%D9%88%D8%AF%D8%A7%DA%AF%D8%B1%D8%A7%DB%8C%DB%8C" title="سوداگرایی – Persian" lang="fa" hreflang="fa" data-title="سوداگرایی" data-language-autonym="فارسی" data-language-local-name="Persian" class="interlanguage-link-target"><span>فارسی</span></a></li><li class="interlanguage-link interwiki-fo mw-list-item"><a href="https://fo.wikipedia.org/wiki/Merkantilisma" title="Merkantilisma – Faroese" lang="fo" hreflang="fo" data-title="Merkantilisma" data-language-autonym="Føroyskt" data-language-local-name="Faroese" class="interlanguage-link-target"><span>Føroyskt</span></a></li><li class="interlanguage-link interwiki-fr badge-Q17437796 badge-featuredarticle mw-list-item" title="featured article badge"><a href="https://fr.wikipedia.org/wiki/Mercantilisme" title="Mercantilisme – French" lang="fr" hreflang="fr" data-title="Mercantilisme" data-language-autonym="Français" data-language-local-name="French" class="interlanguage-link-target"><span>Français</span></a></li><li class="interlanguage-link interwiki-ga mw-list-item"><a href="https://ga.wikipedia.org/wiki/Marsantachas" title="Marsantachas – Irish" lang="ga" hreflang="ga" data-title="Marsantachas" data-language-autonym="Gaeilge" data-language-local-name="Irish" class="interlanguage-link-target"><span>Gaeilge</span></a></li><li class="interlanguage-link interwiki-gl mw-list-item"><a href="https://gl.wikipedia.org/wiki/Mercantilismo" title="Mercantilismo – Galician" lang="gl" hreflang="gl" data-title="Mercantilismo" data-language-autonym="Galego" data-language-local-name="Galician" class="interlanguage-link-target"><span>Galego</span></a></li><li class="interlanguage-link interwiki-ko mw-list-item"><a href="https://ko.wikipedia.org/wiki/%EC%A4%91%EC%83%81%EC%A3%BC%EC%9D%98" title="중상주의 – Korean" lang="ko" hreflang="ko" data-title="중상주의" data-language-autonym="한국어" data-language-local-name="Korean" class="interlanguage-link-target"><span>한국어</span></a></li><li class="interlanguage-link interwiki-hy mw-list-item"><a href="https://hy.wikipedia.org/wiki/%D5%84%D5%A5%D6%80%D5%AF%D5%A1%D5%B6%D5%BF%D5%AB%D5%AC%D5%AB%D5%A6%D5%B4" title="Մերկանտիլիզմ – Armenian" lang="hy" hreflang="hy" data-title="Մերկանտիլիզմ" data-language-autonym="Հայերեն" data-language-local-name="Armenian" class="interlanguage-link-target"><span>Հայերեն</span></a></li><li class="interlanguage-link interwiki-hi mw-list-item"><a href="https://hi.wikipedia.org/wiki/%E0%A4%B5%E0%A4%BE%E0%A4%A3%E0%A4%BF%E0%A4%9C%E0%A5%8D%E0%A4%AF%E0%A4%B5%E0%A4%BE%E0%A4%A6" title="वाणिज्यवाद – Hindi" lang="hi" hreflang="hi" data-title="वाणिज्यवाद" data-language-autonym="हिन्दी" data-language-local-name="Hindi" class="interlanguage-link-target"><span>हिन्दी</span></a></li><li class="interlanguage-link interwiki-hr mw-list-item"><a href="https://hr.wikipedia.org/wiki/Merkantilizam" title="Merkantilizam – Croatian" lang="hr" hreflang="hr" data-title="Merkantilizam" data-language-autonym="Hrvatski" data-language-local-name="Croatian" class="interlanguage-link-target"><span>Hrvatski</span></a></li><li class="interlanguage-link interwiki-id mw-list-item"><a href="https://id.wikipedia.org/wiki/Merkantilisme" title="Merkantilisme – Indonesian" lang="id" hreflang="id" data-title="Merkantilisme" data-language-autonym="Bahasa Indonesia" data-language-local-name="Indonesian" class="interlanguage-link-target"><span>Bahasa Indonesia</span></a></li><li class="interlanguage-link interwiki-is mw-list-item"><a href="https://is.wikipedia.org/wiki/Merkant%C3%ADlismi" title="Merkantílismi – Icelandic" lang="is" hreflang="is" data-title="Merkantílismi" data-language-autonym="Íslenska" data-language-local-name="Icelandic" class="interlanguage-link-target"><span>Íslenska</span></a></li><li class="interlanguage-link interwiki-it mw-list-item"><a href="https://it.wikipedia.org/wiki/Mercantilismo" title="Mercantilismo – Italian" lang="it" hreflang="it" data-title="Mercantilismo" data-language-autonym="Italiano" data-language-local-name="Italian" class="interlanguage-link-target"><span>Italiano</span></a></li><li class="interlanguage-link interwiki-he mw-list-item"><a href="https://he.wikipedia.org/wiki/%D7%9E%D7%A8%D7%A7%D7%A0%D7%98%D7%99%D7%9C%D7%99%D7%96%D7%9D" title="מרקנטיליזם – Hebrew" lang="he" hreflang="he" data-title="מרקנטיליזם" data-language-autonym="עברית" data-language-local-name="Hebrew" class="interlanguage-link-target"><span>עברית</span></a></li><li class="interlanguage-link interwiki-ka mw-list-item"><a href="https://ka.wikipedia.org/wiki/%E1%83%9B%E1%83%94%E1%83%A0%E1%83%99%E1%83%90%E1%83%9C%E1%83%A2%E1%83%98%E1%83%9A%E1%83%98%E1%83%96%E1%83%9B%E1%83%98" title="მერკანტილიზმი – Georgian" lang="ka" hreflang="ka" data-title="მერკანტილიზმი" data-language-autonym="ქართული" data-language-local-name="Georgian" class="interlanguage-link-target"><span>ქართული</span></a></li><li class="interlanguage-link interwiki-kk mw-list-item"><a href="https://kk.wikipedia.org/wiki/%D0%9C%D0%B5%D1%80%D0%BA%D0%B0%D0%BD%D1%82%D0%B8%D0%BB%D0%B8%D0%B7%D0%BC" title="Меркантилизм – Kazakh" lang="kk" hreflang="kk" data-title="Меркантилизм" data-language-autonym="Қазақша" data-language-local-name="Kazakh" class="interlanguage-link-target"><span>Қазақша</span></a></li><li class="interlanguage-link interwiki-ky mw-list-item"><a href="https://ky.wikipedia.org/wiki/%D0%9C%D0%B5%D1%80%D0%BA%D0%B0%D0%BD%D1%82%D0%B8%D0%BB%D0%B8%D0%B7%D0%BC" title="Меркантилизм – Kyrgyz" lang="ky" hreflang="ky" data-title="Меркантилизм" data-language-autonym="Кыргызча" data-language-local-name="Kyrgyz" class="interlanguage-link-target"><span>Кыргызча</span></a></li><li class="interlanguage-link interwiki-lv mw-list-item"><a href="https://lv.wikipedia.org/wiki/Merkantilisms" title="Merkantilisms – Latvian" lang="lv" hreflang="lv" data-title="Merkantilisms" data-language-autonym="Latviešu" data-language-local-name="Latvian" class="interlanguage-link-target"><span>Latviešu</span></a></li><li class="interlanguage-link interwiki-lt mw-list-item"><a href="https://lt.wikipedia.org/wiki/Merkantilizmas" title="Merkantilizmas – Lithuanian" lang="lt" hreflang="lt" data-title="Merkantilizmas" data-language-autonym="Lietuvių" data-language-local-name="Lithuanian" class="interlanguage-link-target"><span>Lietuvių</span></a></li><li class="interlanguage-link interwiki-hu mw-list-item"><a href="https://hu.wikipedia.org/wiki/Merkantilizmus" title="Merkantilizmus – Hungarian" lang="hu" hreflang="hu" data-title="Merkantilizmus" data-language-autonym="Magyar" data-language-local-name="Hungarian" class="interlanguage-link-target"><span>Magyar</span></a></li><li class="interlanguage-link interwiki-mk mw-list-item"><a href="https://mk.wikipedia.org/wiki/%D0%9C%D0%B5%D1%80%D0%BA%D0%B0%D0%BD%D1%82%D0%B8%D0%BB%D0%B8%D0%B7%D0%B0%D0%BC" title="Меркантилизам – Macedonian" lang="mk" hreflang="mk" data-title="Меркантилизам" data-language-autonym="Македонски" data-language-local-name="Macedonian" class="interlanguage-link-target"><span>Македонски</span></a></li><li class="interlanguage-link interwiki-ms mw-list-item"><a href="https://ms.wikipedia.org/wiki/Merkantilisme" title="Merkantilisme – Malay" lang="ms" hreflang="ms" data-title="Merkantilisme" data-language-autonym="Bahasa Melayu" data-language-local-name="Malay" class="interlanguage-link-target"><span>Bahasa Melayu</span></a></li><li class="interlanguage-link interwiki-mn mw-list-item"><a href="https://mn.wikipedia.org/wiki/%D0%9C%D0%B5%D1%80%D0%BA%D0%B0%D0%BD%D1%82%D0%B8%D0%BB%D0%B8%D0%B7%D0%BC" title="Меркантилизм – Mongolian" lang="mn" hreflang="mn" data-title="Меркантилизм" data-language-autonym="Монгол" data-language-local-name="Mongolian" class="interlanguage-link-target"><span>Монгол</span></a></li><li class="interlanguage-link interwiki-nl mw-list-item"><a href="https://nl.wikipedia.org/wiki/Mercantilisme" title="Mercantilisme – Dutch" lang="nl" hreflang="nl" data-title="Mercantilisme" data-language-autonym="Nederlands" data-language-local-name="Dutch" class="interlanguage-link-target"><span>Nederlands</span></a></li><li class="interlanguage-link interwiki-ne mw-list-item"><a href="https://ne.wikipedia.org/wiki/%E0%A4%B5%E0%A4%A3%E0%A4%BF%E0%A4%95%E0%A4%B5%E0%A4%BE%E0%A4%A6" title="वणिकवाद – Nepali" lang="ne" hreflang="ne" data-title="वणिकवाद" data-language-autonym="नेपाली" data-language-local-name="Nepali" class="interlanguage-link-target"><span>नेपाली</span></a></li><li class="interlanguage-link interwiki-ja mw-list-item"><a href="https://ja.wikipedia.org/wiki/%E9%87%8D%E5%95%86%E4%B8%BB%E7%BE%A9" title="重商主義 – Japanese" lang="ja" hreflang="ja" data-title="重商主義" data-language-autonym="日本語" data-language-local-name="Japanese" class="interlanguage-link-target"><span>日本語</span></a></li><li class="interlanguage-link interwiki-no mw-list-item"><a href="https://no.wikipedia.org/wiki/Merkantilisme" title="Merkantilisme – Norwegian Bokmål" lang="nb" hreflang="nb" data-title="Merkantilisme" data-language-autonym="Norsk bokmål" data-language-local-name="Norwegian Bokmål" class="interlanguage-link-target"><span>Norsk bokmål</span></a></li><li class="interlanguage-link interwiki-oc mw-list-item"><a href="https://oc.wikipedia.org/wiki/Mercantilisme" title="Mercantilisme – Occitan" lang="oc" hreflang="oc" data-title="Mercantilisme" data-language-autonym="Occitan" data-language-local-name="Occitan" class="interlanguage-link-target"><span>Occitan</span></a></li><li class="interlanguage-link interwiki-uz mw-list-item"><a href="https://uz.wikipedia.org/wiki/Merkantilizm" title="Merkantilizm – Uzbek" lang="uz" hreflang="uz" data-title="Merkantilizm" data-language-autonym="Oʻzbekcha / ўзбекча" data-language-local-name="Uzbek" class="interlanguage-link-target"><span>Oʻzbekcha / ўзбекча</span></a></li><li class="interlanguage-link interwiki-pl mw-list-item"><a href="https://pl.wikipedia.org/wiki/Merkantylizm" title="Merkantylizm – Polish" lang="pl" hreflang="pl" data-title="Merkantylizm" data-language-autonym="Polski" data-language-local-name="Polish" class="interlanguage-link-target"><span>Polski</span></a></li><li class="interlanguage-link interwiki-pt mw-list-item"><a href="https://pt.wikipedia.org/wiki/Mercantilismo" title="Mercantilismo – Portuguese" lang="pt" hreflang="pt" data-title="Mercantilismo" data-language-autonym="Português" data-language-local-name="Portuguese" class="interlanguage-link-target"><span>Português</span></a></li><li class="interlanguage-link interwiki-ro mw-list-item"><a href="https://ro.wikipedia.org/wiki/Mercantilism" title="Mercantilism – Romanian" lang="ro" hreflang="ro" data-title="Mercantilism" data-language-autonym="Română" data-language-local-name="Romanian" class="interlanguage-link-target"><span>Română</span></a></li><li class="interlanguage-link interwiki-ru mw-list-item"><a href="https://ru.wikipedia.org/wiki/%D0%9C%D0%B5%D1%80%D0%BA%D0%B0%D0%BD%D1%82%D0%B8%D0%BB%D0%B8%D0%B7%D0%BC" title="Меркантилизм – Russian" lang="ru" hreflang="ru" data-title="Меркантилизм" data-language-autonym="Русский" data-language-local-name="Russian" class="interlanguage-link-target"><span>Русский</span></a></li><li class="interlanguage-link interwiki-sq mw-list-item"><a href="https://sq.wikipedia.org/wiki/Merkantilizmi" title="Merkantilizmi – Albanian" lang="sq" hreflang="sq" data-title="Merkantilizmi" data-language-autonym="Shqip" data-language-local-name="Albanian" class="interlanguage-link-target"><span>Shqip</span></a></li><li class="interlanguage-link interwiki-si mw-list-item"><a href="https://si.wikipedia.org/wiki/%E0%B7%80%E0%B7%8F%E0%B6%B1%E0%B7%92%E0%B6%A2_%E0%B7%80%E0%B7%8F%E0%B6%AF%E0%B6%BA" title="වානිජ වාදය – Sinhala" lang="si" hreflang="si" data-title="වානිජ වාදය" data-language-autonym="සිංහල" data-language-local-name="Sinhala" class="interlanguage-link-target"><span>සිංහල</span></a></li><li class="interlanguage-link interwiki-simple mw-list-item"><a href="https://simple.wikipedia.org/wiki/Mercantilism" title="Mercantilism – Simple English" lang="en-simple" hreflang="en-simple" data-title="Mercantilism" data-language-autonym="Simple English" data-language-local-name="Simple English" class="interlanguage-link-target"><span>Simple English</span></a></li><li class="interlanguage-link interwiki-sk mw-list-item"><a href="https://sk.wikipedia.org/wiki/Merkantilizmus" title="Merkantilizmus – Slovak" lang="sk" hreflang="sk" data-title="Merkantilizmus" data-language-autonym="Slovenčina" data-language-local-name="Slovak" class="interlanguage-link-target"><span>Slovenčina</span></a></li><li class="interlanguage-link interwiki-sl mw-list-item"><a href="https://sl.wikipedia.org/wiki/Merkantilizem" title="Merkantilizem – Slovenian" lang="sl" hreflang="sl" data-title="Merkantilizem" data-language-autonym="Slovenščina" data-language-local-name="Slovenian" class="interlanguage-link-target"><span>Slovenščina</span></a></li><li class="interlanguage-link interwiki-sr mw-list-item"><a href="https://sr.wikipedia.org/wiki/%D0%9C%D0%B5%D1%80%D0%BA%D0%B0%D0%BD%D1%82%D0%B8%D0%BB%D0%B8%D0%B7%D0%B0%D0%BC" title="Меркантилизам – Serbian" lang="sr" hreflang="sr" data-title="Меркантилизам" data-language-autonym="Српски / srpski" data-language-local-name="Serbian" class="interlanguage-link-target"><span>Српски / srpski</span></a></li><li class="interlanguage-link interwiki-sh mw-list-item"><a href="https://sh.wikipedia.org/wiki/Merkantilizam" title="Merkantilizam – Serbo-Croatian" lang="sh" hreflang="sh" data-title="Merkantilizam" data-language-autonym="Srpskohrvatski / српскохрватски" data-language-local-name="Serbo-Croatian" class="interlanguage-link-target"><span>Srpskohrvatski / српскохрватски</span></a></li><li class="interlanguage-link interwiki-fi mw-list-item"><a href="https://fi.wikipedia.org/wiki/Merkantilismi" title="Merkantilismi – Finnish" lang="fi" hreflang="fi" data-title="Merkantilismi" data-language-autonym="Suomi" data-language-local-name="Finnish" class="interlanguage-link-target"><span>Suomi</span></a></li><li class="interlanguage-link interwiki-sv mw-list-item"><a href="https://sv.wikipedia.org/wiki/Merkantilism" title="Merkantilism – Swedish" lang="sv" hreflang="sv" data-title="Merkantilism" data-language-autonym="Svenska" data-language-local-name="Swedish" class="interlanguage-link-target"><span>Svenska</span></a></li><li class="interlanguage-link interwiki-ta mw-list-item"><a href="https://ta.wikipedia.org/wiki/%E0%AE%B5%E0%AE%A3%E0%AE%BF%E0%AE%95%E0%AE%B5%E0%AE%BE%E0%AE%A4%E0%AE%AE%E0%AF%8D" title="வணிகவாதம் – Tamil" lang="ta" hreflang="ta" data-title="வணிகவாதம்" data-language-autonym="தமிழ்" data-language-local-name="Tamil" class="interlanguage-link-target"><span>தமிழ்</span></a></li><li class="interlanguage-link interwiki-th mw-list-item"><a href="https://th.wikipedia.org/wiki/%E0%B8%A5%E0%B8%B1%E0%B8%97%E0%B8%98%E0%B8%B4%E0%B8%9E%E0%B8%B2%E0%B8%93%E0%B8%B4%E0%B8%8A%E0%B8%A2%E0%B8%99%E0%B8%B4%E0%B8%A2%E0%B8%A1" title="ลัทธิพาณิชยนิยม – Thai" lang="th" hreflang="th" data-title="ลัทธิพาณิชยนิยม" data-language-autonym="ไทย" data-language-local-name="Thai" class="interlanguage-link-target"><span>ไทย</span></a></li><li class="interlanguage-link interwiki-tg mw-list-item"><a href="https://tg.wikipedia.org/wiki/%D0%9C%D0%B5%D1%80%D0%BA%D0%B0%D0%BD%D1%82%D0%B8%D0%BB%D0%B8%D0%B7%D0%BC" title="Меркантилизм – Tajik" lang="tg" hreflang="tg" data-title="Меркантилизм" data-language-autonym="Тоҷикӣ" data-language-local-name="Tajik" class="interlanguage-link-target"><span>Тоҷикӣ</span></a></li><li class="interlanguage-link interwiki-tr mw-list-item"><a href="https://tr.wikipedia.org/wiki/Merkantilizm" title="Merkantilizm – Turkish" lang="tr" hreflang="tr" data-title="Merkantilizm" data-language-autonym="Türkçe" data-language-local-name="Turkish" class="interlanguage-link-target"><span>Türkçe</span></a></li><li class="interlanguage-link interwiki-tk mw-list-item"><a href="https://tk.wikipedia.org/wiki/Merkantalizm" title="Merkantalizm – Turkmen" lang="tk" hreflang="tk" data-title="Merkantalizm" data-language-autonym="Türkmençe" data-language-local-name="Turkmen" class="interlanguage-link-target"><span>Türkmençe</span></a></li><li class="interlanguage-link interwiki-uk mw-list-item"><a href="https://uk.wikipedia.org/wiki/%D0%9C%D0%B5%D1%80%D0%BA%D0%B0%D0%BD%D1%82%D0%B8%D0%BB%D1%96%D0%B7%D0%BC" title="Меркантилізм – Ukrainian" lang="uk" hreflang="uk" data-title="Меркантилізм" data-language-autonym="Українська" data-language-local-name="Ukrainian" class="interlanguage-link-target"><span>Українська</span></a></li><li class="interlanguage-link interwiki-vi mw-list-item"><a href="https://vi.wikipedia.org/wiki/Ch%E1%BB%A7_ngh%C4%A9a_tr%E1%BB%8Dng_th%C6%B0%C6%A1ng" title="Chủ nghĩa trọng thương – Vietnamese" lang="vi" hreflang="vi" data-title="Chủ nghĩa trọng thương" data-language-autonym="Tiếng Việt" data-language-local-name="Vietnamese" class="interlanguage-link-target"><span>Tiếng Việt</span></a></li><li class="interlanguage-link interwiki-war mw-list-item"><a href="https://war.wikipedia.org/wiki/Merkantilismo" title="Merkantilismo – Waray" lang="war" hreflang="war" data-title="Merkantilismo" data-language-autonym="Winaray" data-language-local-name="Waray" class="interlanguage-link-target"><span>Winaray</span></a></li><li class="interlanguage-link interwiki-wuu mw-list-item"><a href="https://wuu.wikipedia.org/wiki/%E9%87%8D%E5%95%86%E4%B8%BB%E4%B9%89" title="重商主义 – Wu" lang="wuu" hreflang="wuu" data-title="重商主义" data-language-autonym="吴语" data-language-local-name="Wu" class="interlanguage-link-target"><span>吴语</span></a></li><li class="interlanguage-link interwiki-zh-yue mw-list-item"><a href="https://zh-yue.wikipedia.org/wiki/%E9%87%8D%E5%95%86%E4%B8%BB%E7%BE%A9" title="重商主義 – Cantonese" lang="yue" hreflang="yue" data-title="重商主義" data-language-autonym="粵語" data-language-local-name="Cantonese" class="interlanguage-link-target"><span>粵語</span></a></li><li class="interlanguage-link interwiki-zh mw-list-item"><a href="https://zh.wikipedia.org/wiki/%E9%87%8D%E5%95%86%E4%B8%BB%E4%B9%89" title="重商主义 – Chinese" lang="zh" hreflang="zh" data-title="重商主义" data-language-autonym="中文" data-language-local-name="Chinese" class="interlanguage-link-target"><span>中文</span></a></li> </ul> <div class="after-portlet after-portlet-lang"><span class="wb-langlinks-edit wb-langlinks-link"><a href="https://www.wikidata.org/wiki/Special:EntityPage/Q162527#sitelinks-wikipedia" title="Edit interlanguage links" class="wbc-editpage">Edit links</a></span></div> </div> </div> </div> </header> <div class="vector-page-toolbar"> <div class="vector-page-toolbar-container"> <div id="left-navigation"> <nav aria-label="Namespaces"> <div id="p-associated-pages" class="vector-menu 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searchaux" style="display:none">Economic policy emphasizing exports</div> <figure class="mw-default-size" typeof="mw:File/Thumb"><a href="/wiki/File:F0087_Louvre_Gellee_port_au_soleil_couchant-_INV4715_rwk.jpg" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/b/bf/F0087_Louvre_Gellee_port_au_soleil_couchant-_INV4715_rwk.jpg/260px-F0087_Louvre_Gellee_port_au_soleil_couchant-_INV4715_rwk.jpg" decoding="async" width="260" height="197" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/b/bf/F0087_Louvre_Gellee_port_au_soleil_couchant-_INV4715_rwk.jpg/390px-F0087_Louvre_Gellee_port_au_soleil_couchant-_INV4715_rwk.jpg 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/b/bf/F0087_Louvre_Gellee_port_au_soleil_couchant-_INV4715_rwk.jpg/520px-F0087_Louvre_Gellee_port_au_soleil_couchant-_INV4715_rwk.jpg 2x" data-file-width="3500" data-file-height="2657" /></a><figcaption><i>Seaport at sunset</i>, a painting by <a href="/wiki/Claude_Lorrain" title="Claude Lorrain">Claude Lorrain</a>, completed in 1639 at the height of mercantilism</figcaption></figure> <p><b>Mercantilism</b> is a <a href="/wiki/Economic_nationalism" title="Economic nationalism">nationalist</a> <a href="/wiki/Economic_policy" title="Economic policy">economic policy</a> that is designed to maximize the exports and minimize the imports for an economy. In other words, it seeks to maximize the accumulation of <a href="/wiki/Resources" class="mw-redirect" title="Resources">resources</a> within the country and use those resources for <a href="/wiki/Unilateralism" title="Unilateralism">one-sided</a> trade. </p><p>The concept aims to reduce a possible <a href="/wiki/Current_account_(balance_of_payments)" title="Current account (balance of payments)">current account</a> deficit or reach a current account surplus, and it includes measures aimed at accumulating <a href="/wiki/Foreign-exchange_reserves" class="mw-redirect" title="Foreign-exchange reserves">monetary reserves</a> by a positive <a href="/wiki/Balance_of_trade" title="Balance of trade">balance of trade</a>, especially of <a href="/wiki/Finished_goods" title="Finished goods">finished goods</a>. Historically, such policies might have contributed to war and motivated <a href="/wiki/Colonialism" title="Colonialism">colonial expansion</a>.<sup id="cite_ref-1" class="reference"><a href="#cite_note-1"><span class="cite-bracket">[</span>1<span class="cite-bracket">]</span></a></sup> Mercantilist theory varies in sophistication from one writer to another and has evolved over time. </p><p>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 <a href="/wiki/Tariff" title="Tariff">tariffs</a>, especially on manufactured goods, were almost universally a feature of mercantilist policy.<sup id="cite_ref-John_J._McCusker_2001_2-0" class="reference"><a href="#cite_note-John_J._McCusker_2001-2"><span class="cite-bracket">[</span>2<span class="cite-bracket">]</span></a></sup> 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 <a href="/wiki/Proto-industrialization" title="Proto-industrialization">proto-industrialization</a>.<sup id="cite_ref-3" class="reference"><a href="#cite_note-3"><span class="cite-bracket">[</span>3<span class="cite-bracket">]</span></a></sup> Some commentators argue that it is still practised in the economies of industrializing countries,<sup id="cite_ref-Samuelson_2007_4-0" class="reference"><a href="#cite_note-Samuelson_2007-4"><span class="cite-bracket">[</span>4<span class="cite-bracket">]</span></a></sup> in the form of <a href="/wiki/Economic_interventionism" class="mw-redirect" title="Economic interventionism">economic interventionism</a>.<sup id="cite_ref-5" class="reference"><a href="#cite_note-5"><span class="cite-bracket">[</span>5<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-6" class="reference"><a href="#cite_note-6"><span class="cite-bracket">[</span>6<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-7" class="reference"><a href="#cite_note-7"><span class="cite-bracket">[</span>7<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-8" class="reference"><a href="#cite_note-8"><span class="cite-bracket">[</span>8<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-9" class="reference"><a href="#cite_note-9"><span class="cite-bracket">[</span>9<span class="cite-bracket">]</span></a></sup> </p><p>With the efforts of supranational organizations such as the <a href="/wiki/World_Trade_Organization" title="World Trade Organization">World Trade Organization</a> to reduce tariffs globally, <a href="/wiki/Non-tariff_barriers_to_trade" title="Non-tariff barriers to trade">non-tariff barriers to trade</a> have assumed a greater importance in <a href="/wiki/Neomercantilism" title="Neomercantilism">neomercantilism</a>. </p> <meta property="mw:PageProp/toc" /> <div class="mw-heading mw-heading2"><h2 id="History">History</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Mercantilism&action=edit&section=1" title="Edit section: History"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <figure class="mw-default-size" typeof="mw:File/Thumb"><a href="/wiki/File:Il_Ritorno_del_Bucintoro_al_molo_nel_giorno_dell%27Ascensione_(c.1738)_Canaletto_-_Wells-Next-The-Sea,_The_Earl_of_Leicester_and_Trustees_of_the_Holkham_Estate.jpg" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/f/ff/Il_Ritorno_del_Bucintoro_al_molo_nel_giorno_dell%27Ascensione_%28c.1738%29_Canaletto_-_Wells-Next-The-Sea%2C_The_Earl_of_Leicester_and_Trustees_of_the_Holkham_Estate.jpg/260px-thumbnail.jpg" decoding="async" width="260" height="261" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/f/ff/Il_Ritorno_del_Bucintoro_al_molo_nel_giorno_dell%27Ascensione_%28c.1738%29_Canaletto_-_Wells-Next-The-Sea%2C_The_Earl_of_Leicester_and_Trustees_of_the_Holkham_Estate.jpg/390px-thumbnail.jpg 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/f/ff/Il_Ritorno_del_Bucintoro_al_molo_nel_giorno_dell%27Ascensione_%28c.1738%29_Canaletto_-_Wells-Next-The-Sea%2C_The_Earl_of_Leicester_and_Trustees_of_the_Holkham_Estate.jpg/520px-thumbnail.jpg 2x" data-file-width="4705" data-file-height="4720" /></a><figcaption>Merchants in <a href="/wiki/Venice" title="Venice">Venice</a></figcaption></figure> <p>Mercantilism became the dominant school of economic thought in Europe throughout the late <a href="/wiki/Renaissance" title="Renaissance">Renaissance</a> and the <a href="/wiki/Early_modern_period" title="Early modern period">early modern period</a> (from the 15th to the 18th centuries). Evidence of mercantilistic practices appeared in early modern <a href="/wiki/Venice" title="Venice">Venice</a>, <a href="/wiki/Genoa" title="Genoa">Genoa</a>, and <a href="/wiki/Pisa" title="Pisa">Pisa</a> regarding control of the Mediterranean trade in <a href="/wiki/Bullion" title="Bullion">bullion</a>. However, the <a href="/wiki/Empiricism" title="Empiricism">empiricism</a> of the <a href="/wiki/Renaissance" title="Renaissance">Renaissance</a>, which first began to quantify large-scale trade accurately, marked mercantilism's birth as a codified school of economic theories.<sup id="cite_ref-John_J._McCusker_2001_2-1" class="reference"><a href="#cite_note-John_J._McCusker_2001-2"><span class="cite-bracket">[</span>2<span class="cite-bracket">]</span></a></sup> The Italian economist and mercantilist <a href="/wiki/Antonio_Serra" title="Antonio Serra">Antonio Serra</a> is considered to have written one of the first treatises on political economy with his 1613 work, <i>A Short Treatise on the Wealth and Poverty of Nations</i>.<sup id="cite_ref-List1916_10-0" class="reference"><a href="#cite_note-List1916-10"><span class="cite-bracket">[</span>10<span class="cite-bracket">]</span></a></sup> </p><p>Mercantilism in its simplest form is <a href="/wiki/Bullionism" title="Bullionism">bullionism</a>, yet mercantilist writers emphasize the circulation of money and reject hoarding. Their emphasis on monetary metals accords with current<sup class="noprint Inline-Template" style="white-space:nowrap;">[<i><a href="/wiki/Wikipedia:Manual_of_Style/Dates_and_numbers#Chronological_items" title="Wikipedia:Manual of Style/Dates and numbers"><span title="The time period mentioned near this tag is ambiguous. (February 2022)">when?</span></a></i>]</sup> ideas regarding the money supply, such as the stimulative effect of a <a href="/wiki/Stimulus_(economics)" title="Stimulus (economics)">growing money-supply</a>. <a href="/wiki/Fiat_money" title="Fiat money">Fiat money</a> and <a href="/wiki/Floating_exchange_rate" title="Floating exchange rate">floating exchange rates</a> have since rendered <a href="/wiki/Hard_money_(policy)" title="Hard money (policy)">specie</a> concerns irrelevant. In time, <a href="/wiki/Industrial_policy" title="Industrial policy">industrial policy</a> supplanted the heavy emphasis on money, accompanied by a shift in focus from the capacity to carry on wars to promoting general prosperity. </p><p>England began the first large-scale and integrative approach to mercantilism during the <a href="/wiki/Elizabethan_Era" class="mw-redirect" title="Elizabethan Era">Elizabethan Era</a> (1558–1603). An early statement on national balance of trade appeared in <i>Discourse of the Common Wealth of this Realm of England</i>, 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."<sup id="cite_ref-11" class="reference"><a href="#cite_note-11"><span class="cite-bracket">[</span>11<span class="cite-bracket">]</span></a></sup> The period featured various but often disjointed efforts by the court of <a href="/wiki/Elizabeth_I_of_England" class="mw-redirect" title="Elizabeth I of England">Queen Elizabeth</a> (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 <a href="/wiki/Trade_and_Navigation_Acts" class="mw-redirect" title="Trade and Navigation Acts">Trade and Navigation Acts</a> in Parliament and issued orders to her navy for the protection and promotion of English shipping. </p><p>Authors noted most for establishing the English mercantilist system include <a href="/wiki/Gerard_de_Malynes" title="Gerard de Malynes">Gerard de Malynes</a> (<abbr title="floruit ('flourished' – known to have been active at a particular time or during a particular period)">fl.</abbr> 1585–1641) and <a href="/wiki/Thomas_Mun" title="Thomas Mun">Thomas Mun</a> (1571–1641), who first articulated the Elizabethan system (<i>England's Treasure by Foreign Trade or the Balance of Foreign Trade is the Rule of Our Treasure</i>), which <a href="/wiki/Josiah_Child" title="Josiah Child">Josiah Child</a> (<abbr title="circa">c.</abbr><span style="white-space:nowrap;"> 1630/31</span>–1699) then developed further. </p><p>Numerous French authors helped cement French policy around statist mercantilism in the 17th century, as <a href="/wiki/King_Louis_XIV_of_France" class="mw-redirect" title="King Louis XIV of France">King Louis XIV</a> (reigned 1643–1715) followed the guidance of <a href="/wiki/Jean_Baptiste_Colbert" class="mw-redirect" title="Jean Baptiste Colbert">Jean Baptiste Colbert</a>, his <a href="/wiki/Controller-General_of_Finances" title="Controller-General of Finances">Controller-General of Finances</a> from 1665 to 1683 who revised the tariff system and expanded industrial policy. <a href="/wiki/French_mercantilism" class="mw-redirect" title="French mercantilism">Colbertism</a> 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 age of incessant warfare, and theorists charged the state with looking for ways to strengthen the economy and to weaken foreign adversaries.<sup id="cite_ref-12" class="reference"><a href="#cite_note-12"><span class="cite-bracket">[</span>12<span class="cite-bracket">]</span></a></sup><sup class="noprint Inline-Template" style="white-space:nowrap;">[<i><a href="/wiki/Wikipedia:Verifiability" title="Wikipedia:Verifiability"><span title="Quotation needed from source to verify. (January 2019)">need quotation to verify</span></a></i>]</sup> </p><p>In Europe, academic belief in mercantilism began to fade in the late-18th century after the <a href="/wiki/East_India_Company" title="East India Company">East India Company</a> annexed the <a href="/wiki/Mughal_Bengal" class="mw-redirect" title="Mughal Bengal">Mughal Bengal</a>,<sup id="cite_ref-13" class="reference"><a href="#cite_note-13"><span class="cite-bracket">[</span>13<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-14" class="reference"><a href="#cite_note-14"><span class="cite-bracket">[</span>14<span class="cite-bracket">]</span></a></sup> a major trading nation, and the establishment of the <a href="/wiki/Company_rule_in_India" title="Company rule in India">British India</a> through the activities of the East India Company,<sup id="cite_ref-15" class="reference"><a href="#cite_note-15"><span class="cite-bracket">[</span>15<span class="cite-bracket">]</span></a></sup> in light of the arguments of <a href="/wiki/Adam_Smith" title="Adam Smith">Adam Smith</a> (1723–1790) and of the <a href="/wiki/Classical_economics" title="Classical economics">classical economists</a>.<sup id="cite_ref-16" class="reference"><a href="#cite_note-16"><span class="cite-bracket">[</span>16<span class="cite-bracket">]</span></a></sup> French economic policy liberalized greatly under <a href="/wiki/Napoleon" title="Napoleon">Napoleon</a> (in power from 1799 to 1814/1815). The British Parliament's repeal of the <a href="/wiki/Corn_Laws" title="Corn Laws">Corn Laws</a> under <a href="/wiki/Robert_Peel" title="Robert Peel">Robert Peel</a> in 1846 symbolized the emergence of <a href="/wiki/Free_trade" title="Free trade">free trade</a> as an alternative system. </p> <div class="mw-heading mw-heading2"><h2 id="Theory">Theory</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Mercantilism&action=edit&section=2" title="Edit section: Theory"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <style data-mw-deduplicate="TemplateStyles:r1129693374">.mw-parser-output .hlist dl,.mw-parser-output .hlist ol,.mw-parser-output .hlist ul{margin:0;padding:0}.mw-parser-output .hlist dd,.mw-parser-output .hlist dt,.mw-parser-output .hlist li{margin:0;display:inline}.mw-parser-output .hlist.inline,.mw-parser-output .hlist.inline dl,.mw-parser-output .hlist.inline ol,.mw-parser-output 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.sidebar-above,.mw-parser-output .sidebar-collapse .sidebar-below{border-top:1px solid #aaa;border-bottom:1px solid #aaa}.mw-parser-output .sidebar-navbar{text-align:right;font-size:115%;padding:0 0.4em 0.4em}.mw-parser-output .sidebar-list-title{padding:0 0.4em;text-align:left;font-weight:bold;line-height:1.6em;font-size:105%}.mw-parser-output .sidebar-list-title-c{padding:0 0.4em;text-align:center;margin:0 3.3em}@media(max-width:640px){body.mediawiki .mw-parser-output .sidebar{width:100%!important;clear:both;float:none!important;margin-left:0!important;margin-right:0!important}}body.skin--responsive .mw-parser-output .sidebar a>img{max-width:none!important}@media screen{html.skin-theme-clientpref-night .mw-parser-output .sidebar:not(.notheme) .sidebar-list-title,html.skin-theme-clientpref-night .mw-parser-output .sidebar:not(.notheme) .sidebar-title-with-pretitle{background:transparent!important}html.skin-theme-clientpref-night .mw-parser-output .sidebar:not(.notheme) .sidebar-title-with-pretitle a{color:var(--color-progressive)!important}}@media screen and (prefers-color-scheme:dark){html.skin-theme-clientpref-os .mw-parser-output .sidebar:not(.notheme) .sidebar-list-title,html.skin-theme-clientpref-os .mw-parser-output .sidebar:not(.notheme) .sidebar-title-with-pretitle{background:transparent!important}html.skin-theme-clientpref-os .mw-parser-output .sidebar:not(.notheme) .sidebar-title-with-pretitle a{color:var(--color-progressive)!important}}@media print{body.ns-0 .mw-parser-output .sidebar{display:none!important}}</style><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><table class="sidebar sidebar-collapse nomobile nowraplinks"><tbody><tr><td class="sidebar-pretitle">Part of <a href="/wiki/Category:Economic_systems" title="Category:Economic systems">a series</a> on</td></tr><tr><th class="sidebar-title-with-pretitle" style="background:#efefef;padding:0.4em;"><a href="/wiki/Economic_system" title="Economic system">Economic systems</a></th></tr><tr><td class="sidebar-above"> <div class="center" style="width:auto; margin-left:auto; margin-right:auto;">Major types</div> <div class="hlist"> <ul><li><a href="/wiki/Capitalism" title="Capitalism">Capitalism</a></li> <li><a href="/wiki/Socialism" title="Socialism">Socialism</a></li> <li><a href="/wiki/Communism" title="Communism">Communism</a></li></ul> </div></td></tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="background:#efefef;border-top:1px solid #aaa;text-align:left;;color: var(--color-base)">By ideology</div><div class="sidebar-list-content mw-collapsible-content hlist"> <ul><li><a href="/wiki/Associative_economics" title="Associative economics">Associative</a></li> <li><a href="/wiki/Capitalism" title="Capitalism">Capitalist</a> <ul><li><a href="/wiki/Corporate_capitalism" title="Corporate capitalism">Corporate</a></li> <li><a href="/wiki/Democratic_capitalism" title="Democratic capitalism">Democratic</a></li> <li><a href="/wiki/Laissez-faire" title="Laissez-faire">Laissez-faire</a></li> <li><a class="mw-selflink selflink">Mercantilist</a></li> <li><a href="/wiki/Neoliberalism" title="Neoliberalism">Neoliberal</a></li> <li><a href="/wiki/Neomercantilism" title="Neomercantilism">Neomercantilist</a></li> <li><a href="/wiki/Protectionism" title="Protectionism">Protectionist</a></li> <li><a href="/wiki/Social_market_economy" title="Social market economy">Social market</a></li> <li><a href="/wiki/Welfare_capitalism" title="Welfare capitalism">Welfare</a></li></ul></li> <li><a href="/wiki/Economic_democracy" title="Economic democracy">Democratic</a></li> <li><a href="/wiki/Economics_of_fascism" title="Economics of fascism">Fascist</a></li> <li><a href="/wiki/Feminist_economics" title="Feminist economics">Feminist</a></li> <li><a href="/wiki/Georgism" title="Georgism">Georgist</a></li> <li><a href="/wiki/Green_economy" title="Green economy">Green</a></li> <li>Religious <ul><li><a href="/wiki/Buddhist_economics" title="Buddhist economics">Buddhist economics</a></li> <li><a href="/wiki/Christian_finance" title="Christian finance">Christian</a> <ul><li><a href="/wiki/Sabbath_economics" title="Sabbath economics">Sabbath economics</a></li></ul></li> <li><a href="/wiki/Islamic_economics" title="Islamic economics">Islamic</a></li></ul></li> <li><a href="/wiki/Socialist_economics" title="Socialist economics">Socialist</a> <ul><li><a href="/wiki/Communalism_(Bookchin)" class="mw-redirect" title="Communalism (Bookchin)">Communalist</a></li> <li><a href="/wiki/Communism" title="Communism">Communist</a></li> <li><a href="/wiki/Market_socialism" title="Market socialism">Market socialist</a></li> <li><a href="/wiki/Mutualism_(movement)" title="Mutualism (movement)">Mutualist</a></li> <li><a href="/wiki/Participatory_economics" title="Participatory economics">Participatory</a></li> <li><a href="/wiki/Socialist_market_economy" title="Socialist market economy">Socialist market</a></li> <li><a href="/wiki/Socialist-oriented_market_economy" title="Socialist-oriented market economy">Socialist-oriented market</a></li> <li><a href="/wiki/State_socialism" title="State socialism">State</a></li> <li><a href="/wiki/Syndicalism" title="Syndicalism">Syndicalist</a></li></ul></li> <li><a href="/wiki/State_capitalism" title="State capitalism">State capitalism</a></li> <li><a href="/wiki/Social_credit" title="Social credit">Social credit</a></li> <li><a href="/wiki/Distributism" title="Distributism">Distributist</a></li> <li>Traditionalist <ul><li><a href="/wiki/Corporatism" title="Corporatism">Corporatist</a></li> <li><a href="/wiki/Feudalism" title="Feudalism">Feudalism</a></li></ul></li></ul></div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="background:#efefef;border-top:1px solid #aaa;text-align:left;;color: var(--color-base)">By coordination</div><div class="sidebar-list-content mw-collapsible-content hlist"> <ul><li><a href="/wiki/Autarky" title="Autarky">Closed (autarky)</a></li> <li><a href="/wiki/Decentralized_planning_(economics)" class="mw-redirect" title="Decentralized planning (economics)">Decentralized</a></li> <li><a href="/wiki/Digital_economy" title="Digital economy">Digital</a></li> <li><a href="/wiki/Dirigisme" title="Dirigisme">Dirigist</a></li> <li><a href="/wiki/Dual_economy" title="Dual economy">Dual</a></li> <li><a href="/wiki/Gift_economy" title="Gift economy">Gift</a></li> <li><a href="/wiki/Informal_sector" class="mw-redirect" title="Informal sector">Informal</a></li> <li><a href="/wiki/Market_economy" title="Market economy">Market</a></li> <li><a href="/wiki/Mixed_economy" title="Mixed economy">Mixed</a></li> <li><a href="/wiki/Natural_economy" title="Natural economy">Natural</a></li> <li><a href="/wiki/Open_economy" title="Open economy">Open</a></li> <li><a href="/wiki/Planned_economy" title="Planned economy">Planned</a></li> <li><a href="/wiki/Robinson_Crusoe_economy" title="Robinson Crusoe economy">Robinson Crusoe</a></li> <li><a href="/wiki/Sharing_economy" title="Sharing economy">Sharing</a></li> <li><a href="/wiki/Subsistence_economy" title="Subsistence economy">Subsistence</a></li> <li><a href="/wiki/Black_market" title="Black market">Underground</a></li> <li><a href="/wiki/Vertical_archipelago" title="Vertical archipelago">Vertical archipelago</a></li> <li><a href="/wiki/Virtual_economy" title="Virtual economy">Virtual</a></li></ul></div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="background:#efefef;border-top:1px solid #aaa;text-align:left;;color: var(--color-base)">By regional model</div><div class="sidebar-list-content mw-collapsible-content hlist"> <ul><li>Asian <ul><li><a href="/wiki/East_Asian_model_of_capitalism" class="mw-redirect" title="East Asian model of capitalism">East Asian</a></li> <li><a href="/wiki/Beijing_Consensus" title="Beijing Consensus">Chinese</a></li> <li><a href="/wiki/Economy_of_Singapore" title="Economy of Singapore">Singaporean</a></li> <li><a href="/wiki/Kerala_model" title="Kerala model">Keralan</a></li></ul></li> <li>European <ul><li><a href="/wiki/Anglo-Saxon_model" title="Anglo-Saxon model">Anglo-Saxon</a></li> <li><a href="/wiki/German_model" title="German model">German</a></li> <li><a href="/wiki/Nordic_model" title="Nordic model">Nordic</a></li> <li><a href="/wiki/Polder_model" title="Polder model">Dutch</a></li> <li><a href="/wiki/Social_market_economy" title="Social market economy">Rhenish</a></li> <li><a href="/wiki/Soviet-type_economic_planning" title="Soviet-type economic planning">Soviet</a></li></ul></li> <li>Latin America <ul><li><a href="/wiki/Socialism_of_the_21st_century" title="Socialism of the 21st century">Socialism of the 21st century</a></li></ul></li></ul></div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="background:#efefef;border-top:1px solid #aaa;text-align:left;;color: var(--color-base)">Sectors</div><div class="sidebar-list-content mw-collapsible-content hlist"> <ul><li><a href="/wiki/Common_ownership" title="Common ownership">Common ownership</a></li> <li><a href="/wiki/Private_sector" title="Private sector">Private</a></li> <li><a href="/wiki/Public_sector" title="Public sector">Public</a></li> <li><a href="/wiki/Voluntary_sector" title="Voluntary sector">Voluntary</a></li></ul></div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="background:#efefef;border-top:1px solid #aaa;text-align:left;;color: var(--color-base)">Property types</div><div class="sidebar-list-content mw-collapsible-content hlist"> <ul><li><a href="/wiki/Collective_ownership" title="Collective ownership">Collective ownership</a></li> <li><a href="/wiki/Commons" title="Commons">Commons</a> (<a href="/wiki/Common_ownership" title="Common ownership">Common ownership</a>)</li> <li><a href="/wiki/Private_property" title="Private property">Private property</a></li> <li><a href="/wiki/State_ownership" title="State ownership">State ownership</a></li> <li><a href="/wiki/Social_ownership" title="Social ownership">Social ownership</a></li></ul></div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="background:#efefef;border-top:1px solid #aaa;text-align:left;;color: var(--color-base)">Transition</div><div class="sidebar-list-content mw-collapsible-content hlist"> <ul><li><a href="/wiki/Collective_farming" title="Collective farming">Collectivization</a></li> <li><a href="/wiki/Communization" title="Communization">Communization</a></li> <li><a href="/wiki/Corporatization" title="Corporatization">Corporatization</a></li> <li><a href="/wiki/Demutualization" title="Demutualization">Demutualization</a></li> <li><a href="/wiki/Deregulation" title="Deregulation">Deregulation</a></li> <li><a href="/wiki/Expropriation" class="mw-redirect" title="Expropriation">Expropriation</a></li> <li><a href="/wiki/Financialization" title="Financialization">Financialization</a></li> <li><a href="/wiki/Liberalization" title="Liberalization">Liberalization</a></li> <li><a href="/wiki/Marketization" title="Marketization">Marketization</a></li> <li><a href="/wiki/Municipalization" title="Municipalization">Municipalization</a></li> <li><a href="/wiki/Mutualization" class="mw-redirect" title="Mutualization">Mutualization</a></li> <li><a href="/wiki/Nationalization" title="Nationalization">Nationalization</a></li> <li><a href="/wiki/Privatization" title="Privatization">Privatization</a></li> <li><a href="/wiki/Socialization_(economics)" class="mw-redirect" title="Socialization (economics)">Socialization</a> <ul><li><a href="/wiki/Socialization_(Marxism)" title="Socialization (Marxism)">Marxist</a></li></ul></li></ul></div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="background:#efefef;border-top:1px solid #aaa;text-align:left;;color: var(--color-base)">Coordination</div><div class="sidebar-list-content mw-collapsible-content hlist"> <ul><li><a href="/wiki/Barter" title="Barter">Barter</a></li> <li><a href="/wiki/Market_(economics)" title="Market (economics)">Market</a> <ul><li><a href="/wiki/Free_market" title="Free market">Free</a></li> <li><a href="/wiki/Open_market" title="Open market">Open</a></li> <li><a href="/wiki/Regulated_market" title="Regulated market">Regulated</a></li></ul></li> <li><a href="/wiki/Economic_planning" title="Economic planning">Planning</a> <ul><li><a href="/wiki/Calculation_in_kind" title="Calculation in kind">In kind</a></li> <li><a href="/wiki/Cybernetics" title="Cybernetics">Cybernetics</a></li> <li><a href="/wiki/Indicative_planning" title="Indicative planning">Indicative</a></li> <li><a href="/wiki/Material_balance_planning" title="Material balance planning">Material balancing</a></li></ul></li> <li><a href="/wiki/Price_system" title="Price system">Price</a></li> <li><a href="/wiki/Self-managed_economy" class="mw-redirect" title="Self-managed economy">Self-managed</a> <ul><li><a href="/wiki/Social_peer-to-peer_processes#P2P_economic_system" class="mw-redirect" title="Social peer-to-peer processes">Peer-to-peer</a></li> <li><a href="/wiki/Sharing_economy" title="Sharing economy">Sharing</a></li> <li><a href="/wiki/Open_access" title="Open access">Open access</a></li></ul></li></ul></div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="background:#efefef;border-top:1px solid #aaa;text-align:left;;color: var(--color-base)">Other types</div><div class="sidebar-list-content mw-collapsible-content hlist"> <ul><li><a href="/wiki/Commons-based_peer_production" title="Commons-based peer production">Commons-based peer production</a></li> <li><a href="/wiki/Expeditionary_economics" title="Expeditionary economics">Expeditionary</a></li> <li><a href="/wiki/Hunter-gatherer" title="Hunter-gatherer">Hunter-gatherer</a></li> <li><a href="/wiki/Inclusive_Democracy" class="mw-redirect" title="Inclusive Democracy">Inclusive Democracy</a></li> <li><a href="/wiki/Information_economy" title="Information economy">Information</a></li> <li><a href="/wiki/Manorialism" title="Manorialism">Manorialism</a></li> <li><a href="/wiki/Newly_industrialized_country" title="Newly industrialized country">Newly industrialized</a></li> <li><a href="/wiki/Palace_economy" title="Palace economy">Palace</a></li> <li><a href="/wiki/Plantation_economy" title="Plantation economy">Plantation</a></li> <li><a href="/wiki/Plutonomy" title="Plutonomy">Plutonomy</a></li> <li><a href="/wiki/Post-capitalism" title="Post-capitalism">Post-capitalist</a></li> <li><a href="/wiki/Post-industrial_economy" title="Post-industrial economy">Post-industrial</a></li> <li><a href="/wiki/Post-scarcity_economy" class="mw-redirect" title="Post-scarcity economy">Post-scarcity</a></li> <li><a href="/wiki/Resource-based_economy" title="Resource-based economy">Resource-based</a></li> <li><a href="/wiki/Token_economy" title="Token economy">Token</a></li> <li><a href="/wiki/Traditional_economy" title="Traditional economy">Traditional</a></li> <li><a href="/wiki/Transition_economy" title="Transition economy">Transition</a></li> <li><a href="/wiki/World_economy" title="World economy">World</a></li></ul></div></div></td> </tr><tr><td class="sidebar-below plainlist" style="line-height:1.2em;font-weight:bold;"> <ul><li><span class="nowrap"><span class="noviewer" typeof="mw:File"><a href="/wiki/File:Emblem-money.svg" class="mw-file-description"><img alt="icon" src="//upload.wikimedia.org/wikipedia/commons/thumb/f/f3/Emblem-money.svg/16px-Emblem-money.svg.png" decoding="async" width="16" height="16" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/f/f3/Emblem-money.svg/24px-Emblem-money.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/f/f3/Emblem-money.svg/32px-Emblem-money.svg.png 2x" data-file-width="48" data-file-height="48" /></a></span> </span><a href="/wiki/Portal:Business_and_economics" class="mw-redirect" title="Portal:Business and economics">Business and economics portal</a></li></ul></td></tr><tr><td class="sidebar-navbar"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><style data-mw-deduplicate="TemplateStyles:r1239400231">.mw-parser-output .navbar{display:inline;font-size:88%;font-weight:normal}.mw-parser-output .navbar-collapse{float:left;text-align:left}.mw-parser-output .navbar-boxtext{word-spacing:0}.mw-parser-output .navbar ul{display:inline-block;white-space:nowrap;line-height:inherit}.mw-parser-output .navbar-brackets::before{margin-right:-0.125em;content:"[ "}.mw-parser-output .navbar-brackets::after{margin-left:-0.125em;content:" ]"}.mw-parser-output .navbar li{word-spacing:-0.125em}.mw-parser-output .navbar a>span,.mw-parser-output .navbar a>abbr{text-decoration:inherit}.mw-parser-output .navbar-mini abbr{font-variant:small-caps;border-bottom:none;text-decoration:none;cursor:inherit}.mw-parser-output .navbar-ct-full{font-size:114%;margin:0 7em}.mw-parser-output .navbar-ct-mini{font-size:114%;margin:0 4em}html.skin-theme-clientpref-night .mw-parser-output .navbar li a abbr{color:var(--color-base)!important}@media(prefers-color-scheme:dark){html.skin-theme-clientpref-os .mw-parser-output .navbar li a abbr{color:var(--color-base)!important}}@media print{.mw-parser-output .navbar{display:none!important}}</style><div class="navbar plainlinks hlist navbar-mini"><ul><li class="nv-view"><a href="/wiki/Template:Economic_systems_sidebar" title="Template:Economic systems sidebar"><abbr title="View this template">v</abbr></a></li><li class="nv-talk"><a href="/wiki/Template_talk:Economic_systems_sidebar" title="Template talk:Economic systems sidebar"><abbr title="Discuss this template">t</abbr></a></li><li class="nv-edit"><a href="/wiki/Special:EditPage/Template:Economic_systems_sidebar" title="Special:EditPage/Template:Economic systems sidebar"><abbr title="Edit this template">e</abbr></a></li></ul></div></td></tr></tbody></table> <p>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 "mercantilism" came into English from <a href="/wiki/German_language" title="German language">German</a> in the early-19th century. </p><p>The bulk of what is commonly called "mercantilist literature" appeared in the 1620s in Great Britain.<sup id="cite_ref-Magnusson_2003_46_17-0" class="reference"><a href="#cite_note-Magnusson_2003_46-17"><span class="cite-bracket">[</span>17<span class="cite-bracket">]</span></a></sup> Smith saw the English merchant <a href="/wiki/Thomas_Mun" title="Thomas Mun">Thomas Mun</a> (1571–1641) as a major creator of the mercantile system, especially in his posthumously published <i>Treasure by Foreign Trade</i> (1664), which Smith considered the archetype or manifesto of the movement.<sup id="cite_ref-18" class="reference"><a href="#cite_note-18"><span class="cite-bracket">[</span>18<span class="cite-bracket">]</span></a></sup> Perhaps the last major mercantilist work was <a href="/wiki/James_Denham-Steuart" class="mw-redirect" title="James Denham-Steuart">James Steuart</a>'s <i>Principles of Political Economy</i>, published in 1767.<sup id="cite_ref-Magnusson_2003_46_17-1" class="reference"><a href="#cite_note-Magnusson_2003_46-17"><span class="cite-bracket">[</span>17<span class="cite-bracket">]</span></a></sup> </p><p>Mercantilist literature also extended beyond England. Italy and France produced noted writers of mercantilist themes, including Italy's <a href="/wiki/Giovanni_Botero" title="Giovanni Botero">Giovanni Botero</a> (1544–1617) and <a href="/wiki/Antonio_Serra" title="Antonio Serra">Antonio Serra</a> (1580–?) and, in France, <a href="/wiki/Jean_Bodin" title="Jean Bodin">Jean Bodin</a> and <a href="/wiki/Jean-Baptiste_Colbert" title="Jean-Baptiste Colbert">Colbert</a>. 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 <a href="/wiki/Edward_Misselden" title="Edward Misselden">Misselden</a>, 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.<sup id="cite_ref-19" class="reference"><a href="#cite_note-19"><span class="cite-bracket">[</span>19<span class="cite-bracket">]</span></a></sup> </p><p>The Austrian lawyer and scholar <a href="/wiki/Philipp_Wilhelm_von_Hornick" class="mw-redirect" title="Philipp Wilhelm von Hornick">Philipp Wilhelm von Hornick</a>, one of the pioneers of <a href="/wiki/Cameralism" title="Cameralism">Cameralism</a>, detailed a nine-point program of what he deemed effective national economy in his <i>Austria Over All, If She Only Will</i> of 1684, which comprehensively sums up the tenets of mercantilism:<sup id="cite_ref-20" class="reference"><a href="#cite_note-20"><span class="cite-bracket">[</span>20<span class="cite-bracket">]</span></a></sup> </p> <ul><li>That every little bit of a country's soil be utilized for agriculture, mining or manufacturing.</li> <li>That all raw materials found in a country be used in domestic manufacture, since finished goods have a higher value than raw materials.</li> <li>That a large, working population be encouraged.</li> <li>That all exports of gold and silver be prohibited and all domestic money be kept in circulation.</li> <li>That all imports of foreign goods be discouraged as much as possible.</li> <li>That where certain imports are indispensable they be obtained at first hand, in exchange for other domestic goods instead of gold and silver.</li> <li>That as much as possible, imports be confined to raw materials that can be finished [in the home country].</li> <li>That opportunities be constantly sought for selling a country's surplus manufactures to foreigners, so far as necessary, for gold and silver.</li> <li>That no importation be allowed if such goods are sufficiently and suitably supplied at home.</li></ul> <p>Other than Von Hornick, there were no mercantilist writers presenting an overarching scheme for the ideal economy, as <a href="/wiki/Adam_Smith" title="Adam Smith">Adam Smith</a> would later do for classical economics. Rather, each mercantilist writer tended to focus on a single area of the economy.<sup id="cite_ref-21" class="reference"><a href="#cite_note-21"><span class="cite-bracket">[</span>21<span class="cite-bracket">]</span></a></sup> 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 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 <a href="/wiki/Rent-seeking" title="Rent-seeking">rent-seeking</a> society". To a certain extent, mercantilist doctrine itself made a general theory of economics impossible.<sup id="cite_ref-22" class="reference"><a href="#cite_note-22"><span class="cite-bracket">[</span>22<span class="cite-bracket">]</span></a></sup> Mercantilists viewed the economic system as a <a href="/wiki/Zero_sum" class="mw-redirect" title="Zero sum">zero-sum game</a>, in which any gain by one party required a loss by another.<sup id="cite_ref-23" class="reference"><a href="#cite_note-23"><span class="cite-bracket">[</span>23<span class="cite-bracket">]</span></a></sup> 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.<sup id="cite_ref-24" class="reference"><a href="#cite_note-24"><span class="cite-bracket">[</span>24<span class="cite-bracket">]</span></a></sup> Mercantilists' writings were also generally created to rationalize particular practices rather than as investigations into the best policies.<sup id="cite_ref-25" class="reference"><a href="#cite_note-25"><span class="cite-bracket">[</span>25<span class="cite-bracket">]</span></a></sup> </p><p>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 <a href="/wiki/Letters_patent" title="Letters patent">letters patent</a> and government-imposed <a href="/wiki/Monopolies" class="mw-redirect" title="Monopolies">monopolies</a>; some mercantilists supported these, but others acknowledged the corruption and inefficiency of such systems. Many mercantilists also realized that the inevitable results of <a href="/wiki/Import_quota" title="Import quota">quotas</a> and price ceilings were <a href="/wiki/Underground_economy" class="mw-redirect" title="Underground economy">black markets</a>. One notion that mercantilists widely agreed upon was the need for <a href="/wiki/Economic_oppression" class="mw-redirect" title="Economic oppression">economic oppression</a> of the working population; laborers and farmers were to live at the "margins of <a href="/wiki/Subsistence" class="mw-redirect" title="Subsistence">subsistence</a>". The goal was to maximize production, with no concern for <a href="/wiki/Consumption_(economics)" title="Consumption (economics)">consumption</a>. Extra money, free time, and education for the <a href="/wiki/Lower_classes" class="mw-redirect" title="Lower classes">lower classes</a> were seen to inevitably lead to vice and laziness, and would result in harm to the economy.<sup id="cite_ref-26" class="reference"><a href="#cite_note-26"><span class="cite-bracket">[</span>26<span class="cite-bracket">]</span></a></sup> </p><p>The mercantilists saw a large population as a form of wealth that made possible the development of bigger <a href="/wiki/Market_(economics)" title="Market (economics)">markets</a> and <a href="/wiki/Army" title="Army">armies</a>. Opposite to mercantilism was the doctrine of <a href="/wiki/Physiocracy" title="Physiocracy">physiocracy</a>, 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. </p> <div class="mw-heading mw-heading2"><h2 id="Policies">Policies</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Mercantilism&action=edit&section=3" title="Edit section: Policies"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>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. </p><p>The policies have included: </p> <ul><li>High <a href="/wiki/Tariff" title="Tariff">tariffs</a>, especially on manufactured goods.</li> <li>Forbidding colonies to trade with other nations.</li> <li>Monopolizing markets with <a href="/wiki/Staple_right" title="Staple right">staple ports</a>.</li> <li>Banning the export of gold and silver, even for payments.</li> <li>Forbidding trade to be carried in foreign ships, as per, for example, the <a href="/wiki/Navigation_Acts" title="Navigation Acts">Navigation Acts</a>.</li> <li>Subsidies on exports.</li> <li>Promoting manufacturing and industry through research or direct subsidies.</li> <li>Limiting wages.</li> <li>Maximizing the use of domestic resources.</li> <li>Restricting domestic consumption through <a href="/wiki/Non-tariff_barriers_to_trade" title="Non-tariff barriers to trade">non-tariff barriers to trade</a>.</li></ul> <div class="mw-heading mw-heading3"><h3 id="France">France</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Mercantilism&action=edit&section=4" title="Edit section: France"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <style data-mw-deduplicate="TemplateStyles:r1236090951">.mw-parser-output .hatnote{font-style:italic}.mw-parser-output div.hatnote{padding-left:1.6em;margin-bottom:0.5em}.mw-parser-output .hatnote i{font-style:normal}.mw-parser-output .hatnote+link+.hatnote{margin-top:-0.5em}@media print{body.ns-0 .mw-parser-output .hatnote{display:none!important}}</style><div role="note" class="hatnote navigation-not-searchable">Main article: <a href="/wiki/Colbertism" title="Colbertism">Colbertism</a></div> <figure class="mw-default-size" typeof="mw:File/Thumb"><a href="/wiki/File:Jean-Baptiste_Colbert.jpg" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/7/70/Jean-Baptiste_Colbert.jpg/170px-Jean-Baptiste_Colbert.jpg" decoding="async" width="170" height="237" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/7/70/Jean-Baptiste_Colbert.jpg/255px-Jean-Baptiste_Colbert.jpg 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/7/70/Jean-Baptiste_Colbert.jpg/340px-Jean-Baptiste_Colbert.jpg 2x" data-file-width="390" data-file-height="543" /></a><figcaption>French finance minister and mercantilist <a href="/wiki/Jean-Baptiste_Colbert" title="Jean-Baptiste Colbert">Jean-Baptiste Colbert</a> served for over 20 years.</figcaption></figure> <p>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 <a href="/wiki/Spain" title="Spain">Spain</a> and some parts of <a href="/wiki/Flanders" title="Flanders">Flanders</a>. The next year, a number of restrictions were imposed on the export of bullion.<sup id="cite_ref-27" class="reference"><a href="#cite_note-27"><span class="cite-bracket">[</span>27<span class="cite-bracket">]</span></a></sup> </p><p>Over the rest of the 16th century, further protectionist measures were introduced. The height of French mercantilism is closely associated with <a href="/wiki/Jean-Baptiste_Colbert" title="Jean-Baptiste Colbert">Jean-Baptiste Colbert</a>, finance minister for 22 years in the 17th century, to the extent that French mercantilism is sometimes called <a href="/wiki/Colbertism" title="Colbertism">Colbertism</a>. 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.<sup id="cite_ref-E.N._Williams._pg._177-83_28-0" class="reference"><a href="#cite_note-E.N._Williams._pg._177-83-28"><span class="cite-bracket">[</span>28<span class="cite-bracket">]</span></a></sup> </p><p>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 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.<sup id="cite_ref-E.N._Williams._pg._177-83_28-1" class="reference"><a href="#cite_note-E.N._Williams._pg._177-83-28"><span class="cite-bracket">[</span>28<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading3"><h3 id="New_France">New France</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Mercantilism&action=edit&section=5" title="Edit section: New France"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236090951"><div role="note" class="hatnote navigation-not-searchable">Main article: <a href="/wiki/Economic_history_of_Canada" title="Economic history of Canada">Economic history of Canada</a></div> <p>France imposed its mercantilist philosophy on its colonies in North America, especially <a href="/wiki/New_France" title="New France">New France</a>. 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 <a href="/wiki/Compagnie_des_Cent-Associ%C3%A9s" class="mw-redirect" title="Compagnie des Cent-Associés">Compagnie des Cent-Associés</a>, 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. </p> <div class="mw-heading mw-heading3"><h3 id="United_Kingdom">United Kingdom</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Mercantilism&action=edit&section=6" title="Edit section: United Kingdom"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236090951"><div role="note" class="hatnote navigation-not-searchable">Main article: <a href="/wiki/Economic_history_of_the_United_Kingdom#The_age_of_mercantilism" title="Economic history of the United Kingdom">Economic history of the United Kingdom § The age of mercantilism</a></div> <p>In England, mercantilism reached its peak during the <a href="/wiki/Long_Parliament" title="Long Parliament">Long Parliament</a> government (1640–60). Mercantilist policies were also embraced throughout much of the <a href="/wiki/Tudor_period" title="Tudor period">Tudor</a> and <a href="/wiki/House_of_Stuart" title="House of Stuart">Stuart</a> periods, with <a href="/wiki/Robert_Walpole" title="Robert Walpole">Robert Walpole</a> being another major proponent. In Britain, government control over the domestic economy was far less extensive than on the <a href="/wiki/Continental_Europe" title="Continental Europe">Continent</a>, limited by <a href="/wiki/Common_law" title="Common law">common law</a> and the steadily increasing power of Parliament.<sup id="cite_ref-29" class="reference"><a href="#cite_note-29"><span class="cite-bracket">[</span>29<span class="cite-bracket">]</span></a></sup> Government-controlled monopolies were common, especially before the <a href="/wiki/English_Civil_War" title="English Civil War">English Civil War</a>, but were often controversial.<sup id="cite_ref-30" class="reference"><a href="#cite_note-30"><span class="cite-bracket">[</span>30<span class="cite-bracket">]</span></a></sup> </p> <figure class="mw-default-size mw-halign-left" typeof="mw:File/Thumb"><a href="/wiki/File:De_slag_bij_Terheide_-_The_Battle_of_Schevening_-_August_10_1653_(Willem_van_de_Velde_I,_1657).jpg" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/0/05/De_slag_bij_Terheide_-_The_Battle_of_Schevening_-_August_10_1653_%28Willem_van_de_Velde_I%2C_1657%29.jpg/250px-De_slag_bij_Terheide_-_The_Battle_of_Schevening_-_August_10_1653_%28Willem_van_de_Velde_I%2C_1657%29.jpg" decoding="async" width="250" height="146" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/0/05/De_slag_bij_Terheide_-_The_Battle_of_Schevening_-_August_10_1653_%28Willem_van_de_Velde_I%2C_1657%29.jpg/375px-De_slag_bij_Terheide_-_The_Battle_of_Schevening_-_August_10_1653_%28Willem_van_de_Velde_I%2C_1657%29.jpg 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/0/05/De_slag_bij_Terheide_-_The_Battle_of_Schevening_-_August_10_1653_%28Willem_van_de_Velde_I%2C_1657%29.jpg/500px-De_slag_bij_Terheide_-_The_Battle_of_Schevening_-_August_10_1653_%28Willem_van_de_Velde_I%2C_1657%29.jpg 2x" data-file-width="7342" data-file-height="4288" /></a><figcaption>The <a href="/wiki/Anglo-Dutch_Wars" title="Anglo-Dutch Wars">Anglo-Dutch Wars</a> were fought between the English and the Dutch for control over the seas and trade routes.</figcaption></figure> <p>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 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 <a href="/wiki/Royal_Navy" title="Royal Navy">Royal Navy</a>, which both protected the colonies of Britain but was vital in capturing the colonies of other European powers.<sup id="cite_ref-31" class="reference"><a href="#cite_note-31"><span class="cite-bracket">[</span>31<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-:1_32-0" class="reference"><a href="#cite_note-:1-32"><span class="cite-bracket">[</span>32<span class="cite-bracket">]</span></a></sup> </p><p>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 bounties given for exports, and the export of some raw materials was banned completely. The <a href="/wiki/Trade_and_Navigation_Acts" class="mw-redirect" title="Trade and Navigation Acts">Navigation Acts</a> removed foreign merchants from being involved England's domestic trade. British policies in their <a href="/wiki/British_America" title="British America">American colonies</a> led to friction with the inhabitants of the <a href="/wiki/Thirteen_Colonies" title="Thirteen Colonies">Thirteen Colonies</a>, and mercantilist policies (such as forbidding trade with other European powers and enforcing bans on smuggling) were a major irritant leading to the <a href="/wiki/American_Revolution" title="American Revolution">American Revolution</a>.<sup id="cite_ref-:1_32-1" class="reference"><a href="#cite_note-:1-32"><span class="cite-bracket">[</span>32<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-:2_33-0" class="reference"><a href="#cite_note-:2-33"><span class="cite-bracket">[</span>33<span class="cite-bracket">]</span></a></sup> </p><p>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 <a href="/wiki/Pax_Britannica" title="Pax Britannica">global hegemon</a>.<sup id="cite_ref-:2_33-1" class="reference"><a href="#cite_note-:2-33"><span class="cite-bracket">[</span>33<span class="cite-bracket">]</span></a></sup> 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 <a href="/wiki/Highest_and_best_use" title="Highest and best use">highest and best use</a>, and this era thus saw projects like the draining of <a href="/wiki/The_Fens" title="The Fens">The Fens</a>.<sup id="cite_ref-34" class="reference"><a href="#cite_note-34"><span class="cite-bracket">[</span>34<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading3"><h3 id="Other_countries">Other countries</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Mercantilism&action=edit&section=7" title="Edit section: Other countries"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <figure class="mw-default-size" typeof="mw:File/Thumb"><a href="/wiki/File:Triangle_trade2.png" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/c/ca/Triangle_trade2.png/260px-Triangle_trade2.png" decoding="async" width="260" height="190" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/c/ca/Triangle_trade2.png/390px-Triangle_trade2.png 1.5x, //upload.wikimedia.org/wikipedia/commons/c/ca/Triangle_trade2.png 2x" data-file-width="448" data-file-height="327" /></a><figcaption>Mercantilism helped create trade patterns such as the <a href="/wiki/Triangular_trade" title="Triangular trade">triangular trade</a> in the North Atlantic, in which raw materials were imported to the <a href="/wiki/Metropole" title="Metropole">mother country</a> and then processed and redistributed to other colonies.</figcaption></figure> <p>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 Central Europe and Scandinavia after the <a href="/wiki/Thirty_Years%27_War" title="Thirty Years' War">Thirty Years' War</a> (1618–48), with <a href="/wiki/Christina_of_Sweden" class="mw-redirect" title="Christina of Sweden">Christina of Sweden</a>, <a href="/wiki/Jacob_Kettler" title="Jacob Kettler">Jacob Kettler of Courland</a>, and <a href="/wiki/Christian_IV_of_Denmark" title="Christian IV of Denmark">Christian IV of Denmark</a> being notable proponents. </p><p>The Habsburg <a href="/wiki/Holy_Roman_Emperor" title="Holy Roman Emperor">Holy Roman Emperors</a> 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 <a href="/wiki/Prussia" title="Prussia">Prussia</a>, which under <a href="/wiki/Frederick_the_Great" title="Frederick the Great">Frederick the Great</a> had perhaps the most rigidly controlled economy in Europe. </p><p>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 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 <a href="/wiki/Dutch_independence" class="mw-redirect" title="Dutch independence">separation of the Dutch</a> from the <a href="/wiki/Spanish_Empire" title="Spanish Empire">Spanish Empire</a>. The culmination of all of these policies led to Spain defaulting in 1557, 1575, and 1596.<sup id="cite_ref-35" class="reference"><a href="#cite_note-35"><span class="cite-bracket">[</span>35<span class="cite-bracket">]</span></a></sup> </p><p>During the economic collapse of the 17th century, Spain had little coherent economic policy, but French mercantilist policies were imported by <a href="/wiki/Philip_V_of_Spain" title="Philip V of Spain">Philip V</a> with some success. Ottoman Grand Vizier <a href="/wiki/Kemanke%C5%9F_Kara_Mustafa_Pasha" title="Kemankeş Kara Mustafa Pasha">Kemankeş Kara Mustafa Pasha</a> also followed some mercantilist financial policies during the reign of <a href="/wiki/Ibrahim_of_the_Ottoman_Empire" title="Ibrahim of the Ottoman Empire">Ibrahim I</a>. <a href="/wiki/Russia" title="Russia">Russia</a> under <a href="/wiki/Peter_I_of_Russia" class="mw-redirect" title="Peter I of Russia">Peter I</a> (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. </p> <div class="mw-heading mw-heading2"><h2 id="Wars_and_imperialism">Wars and imperialism</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Mercantilism&action=edit&section=8" title="Edit section: Wars and imperialism"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>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.<sup id="cite_ref-36" class="reference"><a href="#cite_note-36"><span class="cite-bracket">[</span>36<span class="cite-bracket">]</span></a></sup> Since the level of world trade was viewed as fixed, it followed that the only way to increase a nation's trade was to take it from another. A number of wars, most notably the <a href="/wiki/Anglo-Dutch_Wars" title="Anglo-Dutch Wars">Anglo-Dutch Wars</a> and the <a href="/wiki/Franco-Dutch_War" title="Franco-Dutch War">Franco-Dutch Wars</a>, 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. </p><p>Mercantilism fueled the <a href="/wiki/Imperialism" title="Imperialism">imperialism</a> 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 monopolies in certain defined geographical regions, such as the <a href="/wiki/Dutch_East_India_Company" title="Dutch East India Company">Dutch East India Company</a> or the <a href="/wiki/Hudson%27s_Bay_Company" title="Hudson's Bay Company">Hudson's Bay Company</a> (operating in present-day <a href="/wiki/Canada" title="Canada">Canada</a>). </p><p>With the establishment of overseas <a href="/wiki/Colony" title="Colony">colonies</a> 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.<sup id="cite_ref-37" class="reference"><a href="#cite_note-37"><span class="cite-bracket">[</span>37<span class="cite-bracket">]</span></a></sup><sup class="noprint Inline-Template" style="white-space:nowrap;">[<i><a href="/wiki/Wikipedia:Verifiability" title="Wikipedia:Verifiability"><span title="Quotation needed from source to verify. (July 2017)">need quotation to verify</span></a></i>]</sup> </p><p>The connection between communism and mercantilism has been explored by Marxist economist and sociologist <a href="/wiki/Giovanni_Arrighi" title="Giovanni Arrighi">Giovanni Arrighi</a>, 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."<sup id="cite_ref-:3_38-0" class="reference"><a href="#cite_note-:3-38"><span class="cite-bracket">[</span>38<span class="cite-bracket">]</span></a></sup> </p><p>In France, the triangular trade method was integral in the continuation of mercantilism throughout the 17th and 18th centuries.<sup id="cite_ref-:0_39-0" class="reference"><a href="#cite_note-:0-39"><span class="cite-bracket">[</span>39<span class="cite-bracket">]</span></a></sup> 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.<sup id="cite_ref-:3_38-1" class="reference"><a href="#cite_note-:3-38"><span class="cite-bracket">[</span>38<span class="cite-bracket">]</span></a></sup> By bringing African slaves to labor in the New World, their labor value increased, and France capitalized upon the market resources produced by slave labor.<sup id="cite_ref-:0_39-1" class="reference"><a href="#cite_note-:0-39"><span class="cite-bracket">[</span>39<span class="cite-bracket">]</span></a></sup> </p><p>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. <a href="/wiki/Trade_war" title="Trade war">Trade wars</a> are often dependent on such tariffs and restrictions hurting the opposing economy. </p> <div class="mw-heading mw-heading2"><h2 id="Origins">Origins</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Mercantilism&action=edit&section=9" title="Edit section: Origins"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1126788409"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1246091330"><table class="sidebar sidebar-collapse nomobile nowraplinks"><tbody><tr><td class="sidebar-pretitle">Part of <a href="/wiki/Category:Capitalism" title="Category:Capitalism">a series</a> on</td></tr><tr><th class="sidebar-title-with-pretitle" style="padding:0.2em;"><a href="/wiki/Capitalism" title="Capitalism">Capitalism</a></th></tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="background:#efefef;text-align:left;;color: var(--color-base)">Concepts</div><div class="sidebar-list-content mw-collapsible-content hlist"> <ul><li><a href="/wiki/Austerity" title="Austerity">Austerity</a></li> <li><a href="/wiki/Business" title="Business">Business</a></li> <li><a href="/wiki/Business_cycle" title="Business cycle">Business cycle</a></li> <li><a href="/wiki/Businessperson" title="Businessperson">Businessperson</a></li> <li><a href="/wiki/Capital_(economics)" title="Capital (economics)">Capital</a></li> <li><a href="/wiki/Capital_accumulation" title="Capital accumulation">Capital accumulation</a></li> <li><a href="/wiki/Capital_market" title="Capital market">Capital markets</a></li> <li><a href="/wiki/Company" title="Company">Company</a></li> <li><a href="/wiki/Corporation" title="Corporation">Corporation</a></li> <li><a href="/wiki/Competition_(economics)" title="Competition (economics)">Competitive markets</a></li> <li><a href="/wiki/Economic_interventionism" class="mw-redirect" title="Economic interventionism">Economic interventionism</a></li> <li><a href="/wiki/Economic_liberalism" title="Economic liberalism">Economic liberalism</a></li> <li><a href="/wiki/Economic_surplus" title="Economic surplus">Economic surplus</a></li> <li><a href="/wiki/Entrepreneurship" title="Entrepreneurship">Entrepreneurship</a></li> <li><a href="/wiki/Fictitious_capital" title="Fictitious capital">Fictitious capital</a></li> <li><a href="/wiki/Financial_market" title="Financial market">Financial market</a></li> <li><a href="/wiki/Free_price_system" title="Free price system">Free price system</a></li> <li><a href="/wiki/Free_market" title="Free market">Free market</a></li> <li><a href="/wiki/Goods_and_services" title="Goods and services">Goods and services</a></li> <li><a href="/wiki/Investor" title="Investor">Investor</a></li> <li><a href="/wiki/Invisible_hand" title="Invisible hand">Invisible hand</a></li> <li><a href="/wiki/Visible_hand_(economics)" title="Visible hand (economics)">Visible hand</a></li> <li><a href="/wiki/Liberalization" title="Liberalization">Liberalization</a></li> <li><a href="/wiki/Marginalism" title="Marginalism">Marginalism</a></li> <li><a href="/wiki/Money" title="Money">Money</a></li> <li><a href="/wiki/Private_property" title="Private property">Private property</a></li> <li><a href="/wiki/Privatization" title="Privatization">Privatization</a></li> <li><a href="/wiki/Profit_(economics)" title="Profit (economics)">Profit</a></li> <li><a href="/wiki/Rent_seeking" class="mw-redirect" title="Rent seeking">Rent seeking</a></li> <li><a href="/wiki/Supply_and_demand" title="Supply and demand">Supply and demand</a></li> <li><a href="/wiki/Surplus_value" title="Surplus value">Surplus value</a></li> <li><a href="/wiki/Value_(economics)" title="Value (economics)">Value</a></li> <li><a href="/wiki/Wage_labour" title="Wage labour">Wage labour</a></li></ul></div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="background:#efefef;text-align:left;;color: var(--color-base)">Economic systems</div><div class="sidebar-list-content mw-collapsible-content hlist"> <ul><li><a href="/wiki/Anglo-Saxon_capitalism" class="mw-redirect" title="Anglo-Saxon capitalism">Anglo-Saxon</a></li> <li><a href="/wiki/Authoritarian_capitalism" title="Authoritarian capitalism">Authoritarian</a></li> <li><a href="/wiki/Corporate_capitalism" title="Corporate capitalism">Corporate</a></li> <li><a href="/wiki/Dirigisme" title="Dirigisme">Dirigist</a></li> <li><a href="/wiki/Free_market#General_principles" title="Free market">Free-market</a></li> <li><a href="/wiki/Humanistic_capitalism" title="Humanistic capitalism">Humanistic</a></li> <li><i><a href="/wiki/Laissez-faire_capitalism" class="mw-redirect" title="Laissez-faire capitalism">Laissez-faire</a></i></li> <li><a href="/wiki/Liberal_capitalism" class="mw-redirect" title="Liberal capitalism">Liberal</a></li> <li><a href="/wiki/Libertarian_capitalism" class="mw-redirect" title="Libertarian capitalism">Libertarian</a></li> <li><a href="/wiki/Market_capitalism" class="mw-redirect" title="Market capitalism">Market</a></li> <li><a class="mw-selflink selflink">Mercantilist</a></li> <li><a href="/wiki/Mixed_capitalism" class="mw-redirect" title="Mixed capitalism">Mixed</a></li> <li><a href="/wiki/State_monopoly_capitalism" title="State monopoly capitalism">Monopoly</a></li> <li><a href="/wiki/National_capitalism" class="mw-redirect" title="National capitalism">National</a></li> <li><a href="/wiki/Neoliberalism" title="Neoliberalism">Neoliberal</a></li> <li><a href="/wiki/Nordic_capitalism" class="mw-redirect" title="Nordic capitalism">Nordic</a></li> <li><a href="/wiki/Anarcho-capitalism" title="Anarcho-capitalism">Private</a></li> <li><a href="/wiki/Raw_capitalism" class="mw-redirect" title="Raw capitalism">Raw</a></li> <li><a href="/wiki/Regulated_market" title="Regulated market">Regulated market</a></li> <li><a href="/wiki/Regulatory_capitalism" title="Regulatory capitalism">Regulatory</a></li> <li><a href="/wiki/Rhine_capitalism" class="mw-redirect" title="Rhine capitalism">Rhine</a></li> <li><a href="/wiki/Social_market_economy" title="Social market economy">Social</a></li> <li><a href="/wiki/State_capitalism" title="State capitalism">State</a></li> <li><a href="/wiki/State-sponsored_capitalism" class="mw-redirect" title="State-sponsored capitalism">State-sponsored</a></li> <li><a href="/wiki/Welfare_capitalism" title="Welfare capitalism">Welfare</a></li></ul></div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="background:#efefef;text-align:left;;color: var(--color-base)">Economic theories</div><div class="sidebar-list-content mw-collapsible-content hlist"> <ul><li><a href="/wiki/American_School_(economics)" title="American School (economics)">American</a></li> <li><a href="/wiki/Austrian_School" class="mw-redirect" title="Austrian School">Austrian</a></li> <li><a href="/wiki/Chartalism" title="Chartalism">Chartalism</a> <ul><li><a href="/wiki/Modern_Monetary_Theory" class="mw-redirect" title="Modern Monetary Theory">MMT</a></li></ul></li> <li><a href="/wiki/Chicago_school_of_economics" title="Chicago school of economics">Chicago</a></li> <li><a href="/wiki/Classical_economics" title="Classical economics">Classical</a></li> <li><a href="/wiki/Institutional_economics" title="Institutional economics">Institutional</a></li> <li><a href="/wiki/Keynesian_economics" title="Keynesian economics">Keynesian</a> <ul><li><a href="/wiki/Neo-Keynesian_economics" class="mw-redirect" title="Neo-Keynesian economics">Neo-</a></li> <li><a href="/wiki/New_Keynesian_economics" title="New Keynesian economics">New</a></li> <li><a href="/wiki/Post-Keynesian_economics" title="Post-Keynesian economics">Post-</a></li></ul></li> <li><a href="/wiki/Market_monetarism" title="Market monetarism">Market monetarism</a></li> <li><a href="/wiki/Critique_of_political_economy" title="Critique of political economy">Critique of political economy</a></li> <li><a href="/wiki/Critique_of_work" title="Critique of work">Critique of work</a></li> <li><a href="/wiki/Marxian_economics" title="Marxian economics">Marxist</a></li> <li><a href="/wiki/Monetarism" title="Monetarism">Monetarist</a></li> <li><a href="/wiki/Neoclassical_economics" title="Neoclassical economics">Neoclassical</a></li> <li><a href="/wiki/New_institutional_economics" title="New institutional economics">New institutional</a></li> <li><a href="/wiki/Supply-side_economics" title="Supply-side economics">Supply-side</a></li></ul></div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="background:#efefef;text-align:left;;color: var(--color-base)">Origins</div><div class="sidebar-list-content mw-collapsible-content hlist"> <ul><li><a href="/wiki/Age_of_Enlightenment" title="Age of Enlightenment">Age of Enlightenment</a></li> <li><a href="/wiki/Capitalism_and_Islam" title="Capitalism and Islam">Capitalism and Islam</a></li> <li><a href="/wiki/Commercial_Revolution" class="mw-redirect" title="Commercial Revolution">Commercial Revolution</a></li> <li><a href="/wiki/Feudalism" title="Feudalism">Feudalism</a></li> <li><a href="/wiki/Industrial_Revolution" title="Industrial Revolution">Industrial Revolution</a></li> <li><a class="mw-selflink selflink">Mercantilism</a></li> <li><a href="/wiki/Primitive_accumulation_of_capital" title="Primitive accumulation of capital">Primitive accumulation</a></li> <li><a href="/wiki/Physiocracy" title="Physiocracy">Physiocracy</a></li> <li><a href="/wiki/Simple_commodity_production" title="Simple commodity production">Simple commodity production</a></li></ul></div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="background:#efefef;text-align:left;;color: var(--color-base)">Development</div><div class="sidebar-list-content mw-collapsible-content hlist"> <ul><li><a href="/wiki/Advanced_capitalism" title="Advanced capitalism">Advanced</a></li> <li><a href="/wiki/Consumer_capitalism" title="Consumer capitalism">Consumer</a></li> <li><a href="/wiki/Community_capitalism" title="Community capitalism">Community</a></li> <li><a href="/wiki/Corporate_capitalism" title="Corporate capitalism">Corporate</a></li> <li><a href="/wiki/Crony_capitalism" title="Crony capitalism">Crony</a></li> <li><a href="/wiki/Finance_capitalism" title="Finance capitalism">Finance</a></li> <li><a href="/wiki/Global_capitalism" class="mw-redirect" title="Global capitalism">Global</a></li> <li><a href="/wiki/Authoritarian_capitalism" title="Authoritarian capitalism">Illiberal</a></li> <li><a href="/wiki/Late_capitalism" title="Late capitalism">Late</a></li> <li><a href="/wiki/Capitalist_mode_of_production_(Marxist_theory)" title="Capitalist mode of production (Marxist theory)">Marxist</a></li> <li><a href="/wiki/Merchant_capitalism" title="Merchant capitalism">Merchant</a></li> <li><a href="/wiki/Progressive_capitalism" title="Progressive capitalism">Progressive</a></li> <li><a href="/wiki/Rentier_capitalism" title="Rentier capitalism">Rentier</a></li> <li><a href="/wiki/State_monopoly_capitalism" title="State monopoly capitalism">State monopoly</a></li> <li><a href="/wiki/Technocapitalism" title="Technocapitalism">Technological</a></li></ul></div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="background:#efefef;text-align:left;;color: var(--color-base)">Intellectuals</div><div class="sidebar-list-content mw-collapsible-content hlist"> <ul><li><a href="/wiki/Adam_Smith" title="Adam Smith">Smith</a></li> <li><a href="/wiki/John_Stuart_Mill" title="John Stuart Mill">Mill</a></li> <li><a href="/wiki/David_Ricardo" title="David Ricardo">Ricardo</a></li> <li><a href="/wiki/Thomas_Robert_Malthus" title="Thomas Robert Malthus">Malthus</a></li> <li><a href="/wiki/Jean-Baptiste_Say" title="Jean-Baptiste Say">Say</a></li> <li><a href="/wiki/Karl_Marx" title="Karl Marx">Marx</a></li> <li><a href="/wiki/Milton_Friedman" title="Milton Friedman">Friedman</a></li> <li><a href="/wiki/Friedrich_Hayek" title="Friedrich Hayek">Hayek</a></li> <li><a href="/wiki/John_Maynard_Keynes" title="John Maynard Keynes">Keynes</a></li> <li><a href="/wiki/Alfred_Marshall" title="Alfred Marshall">Marshall</a></li> <li><a href="/wiki/Vilfredo_Pareto" title="Vilfredo Pareto">Pareto</a></li> <li><a href="/wiki/L%C3%A9on_Walras" title="Léon Walras">Walras</a></li> <li><a href="/wiki/Ludwig_von_Mises" title="Ludwig von Mises">von Mises</a></li> <li><a href="/wiki/Ayn_Rand" title="Ayn Rand">Rand</a></li> <li><a href="/wiki/Murray_Rothbard" title="Murray Rothbard">Rothbard</a></li> <li><a href="/wiki/Joseph_Schumpeter" title="Joseph Schumpeter">Schumpeter</a></li> <li><a href="/wiki/Thorstein_Veblen" title="Thorstein Veblen">Veblen</a></li> <li><a href="/wiki/Richard_M._Weaver" title="Richard M. Weaver">Weaver</a></li> <li><a href="/wiki/Max_Weber" title="Max Weber">Weber</a></li> <li><a href="/wiki/Ronald_Coase" title="Ronald Coase">Coase</a></li></ul></div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="background:#efefef;text-align:left;;color: var(--color-base)">Related topics</div><div class="sidebar-list-content mw-collapsible-content hlist"> <ul><li><a href="/wiki/Anti-capitalism" title="Anti-capitalism">Anti-capitalism</a></li> <li><a href="/wiki/Capitalist_propaganda" title="Capitalist propaganda">Capitalist propaganda</a></li> <li><a href="/wiki/Capitalist_realism" title="Capitalist realism">Capitalist realism</a></li> <li><a href="/wiki/Capitalist_state" title="Capitalist state">Capitalist state</a></li> <li><a href="/wiki/Consumerism" title="Consumerism">Consumerism</a></li> <li><a href="/wiki/Crisis_theory" title="Crisis theory">Crisis theory</a></li> <li><a href="/wiki/Criticism_of_capitalism" title="Criticism of capitalism">Criticism of capitalism</a></li> <li><a href="/wiki/Critique_of_political_economy" title="Critique of political economy">Critique of political economy</a></li> <li><a href="/wiki/Critique_of_work" title="Critique of work">Critique of work</a></li> <li><a href="/wiki/Cronyism" title="Cronyism">Cronyism</a></li> <li><a href="/wiki/Culture_of_capitalism" title="Culture of capitalism">Culture of capitalism</a></li> <li><a href="/wiki/Evergreening" title="Evergreening">Evergreening</a></li> <li><a href="/wiki/Exploitation_of_labour" title="Exploitation of labour">Exploitation of labour</a></li> <li><a href="/wiki/Globalization" title="Globalization">Globalization</a></li> <li><a href="/wiki/History_of_capitalism" title="History of capitalism">History</a></li> <li><a href="/wiki/History_of_capitalist_theory" title="History of capitalist theory">History of theory</a></li> <li><a href="/wiki/Market_economy" title="Market economy">Market economy</a></li> <li><a href="/wiki/Periodizations_of_capitalism" title="Periodizations of capitalism">Periodizations of capitalism</a></li> <li><a href="/wiki/Perspectives_on_capitalism" class="mw-redirect" title="Perspectives on capitalism">Perspectives on capitalism</a></li> <li><a href="/wiki/Post-capitalism" title="Post-capitalism">Post-capitalism</a></li> <li><a href="/wiki/Speculation" title="Speculation">Speculation</a></li> <li><a href="/wiki/Spontaneous_order" title="Spontaneous order">Spontaneous order</a></li> <li><a href="/wiki/Venture_philanthropy" title="Venture philanthropy">Venture philanthropy</a></li> <li><a href="/wiki/Wage_slavery" title="Wage slavery">Wage slavery</a></li></ul></div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="background:#efefef;text-align:left;;color: var(--color-base)">Ideologies</div><div class="sidebar-list-content mw-collapsible-content hlist"> <ul><li><a href="/wiki/Anarcho-capitalism" title="Anarcho-capitalism">Anarcho</a></li> <li><a href="/wiki/Authoritarian_capitalism" title="Authoritarian capitalism">Authoritarian</a></li> <li><a href="/wiki/Classical_liberalism" title="Classical liberalism">Classical liberalism</a></li> <li><a href="/wiki/Democratic_capitalism" title="Democratic capitalism">Democratic</a></li> <li><a href="/wiki/Dirigisme" title="Dirigisme">Dirigisme</a></li> <li><a href="/wiki/Eco-capitalism" title="Eco-capitalism">Eco</a></li> <li><a href="/wiki/Humanistic_capitalism" title="Humanistic capitalism">Humanistic</a></li> <li><a href="/wiki/Inclusive_capitalism" title="Inclusive capitalism">Inclusive</a></li> <li><a href="/wiki/Liberal_capitalism" class="mw-redirect" title="Liberal capitalism">Liberal</a></li> <li><a href="/wiki/Liberalism" title="Liberalism">Liberalism</a></li> <li><a href="/wiki/Libertarian_capitalism" class="mw-redirect" title="Libertarian capitalism">Libertarian</a></li> <li><a href="/wiki/Neo-Capitalism" class="mw-redirect" title="Neo-Capitalism">Neo</a></li> <li><a href="/wiki/Neoliberalism" title="Neoliberalism">Neoliberalism</a></li> <li><a href="/wiki/Objectivism" title="Objectivism">Objectivism</a></li> <li><a href="/wiki/Ordoliberalism" title="Ordoliberalism">Ordoliberalism</a></li> <li><a href="/wiki/Privatism" title="Privatism">Privatism</a></li> <li><a href="/wiki/Right-libertarianism" title="Right-libertarianism">Right-libertarianism</a></li> <li><a href="/wiki/Third_Way" title="Third Way">Third Way</a></li></ul></div></div></td> </tr><tr><td class="sidebar-below plainlist"> <ul><li><span class="nowrap"><span class="noviewer" typeof="mw:File"><a href="/wiki/File:Capitalismlogo.svg" class="mw-file-description"><img alt="icon" src="//upload.wikimedia.org/wikipedia/commons/thumb/2/2f/Capitalismlogo.svg/16px-Capitalismlogo.svg.png" decoding="async" width="16" height="15" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/2/2f/Capitalismlogo.svg/24px-Capitalismlogo.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/2/2f/Capitalismlogo.svg/32px-Capitalismlogo.svg.png 2x" data-file-width="959" data-file-height="912" /></a></span> </span><a href="/wiki/Portal:Capitalism" title="Portal:Capitalism">Capitalism portal</a></li> <li><span class="nowrap"><span class="noviewer" typeof="mw:File"><a href="/wiki/File:Emblem-money.svg" class="mw-file-description"><img alt="icon" src="//upload.wikimedia.org/wikipedia/commons/thumb/f/f3/Emblem-money.svg/16px-Emblem-money.svg.png" decoding="async" width="16" height="16" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/f/f3/Emblem-money.svg/24px-Emblem-money.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/f/f3/Emblem-money.svg/32px-Emblem-money.svg.png 2x" data-file-width="48" data-file-height="48" /></a></span> </span><a href="/wiki/Portal:Business" title="Portal:Business">Business portal</a></li></ul></td></tr><tr><td class="sidebar-navbar"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1239400231"><div class="navbar plainlinks hlist navbar-mini"><ul><li class="nv-view"><a href="/wiki/Template:Capitalism_sidebar" title="Template:Capitalism sidebar"><abbr title="View this template">v</abbr></a></li><li class="nv-talk"><a href="/wiki/Template_talk:Capitalism_sidebar" title="Template talk:Capitalism sidebar"><abbr title="Discuss this template">t</abbr></a></li><li class="nv-edit"><a href="/wiki/Special:EditPage/Template:Capitalism_sidebar" title="Special:EditPage/Template:Capitalism sidebar"><abbr title="Edit this template">e</abbr></a></li></ul></div></td></tr></tbody></table> <p>The term "mercantile system" was used by its foremost critic, <a href="/wiki/Adam_Smith" title="Adam Smith">Adam Smith</a>,<sup id="cite_ref-40" class="reference"><a href="#cite_note-40"><span class="cite-bracket">[</span>40<span class="cite-bracket">]</span></a></sup> but <a href="/wiki/Victor_de_Riqueti,_marquis_de_Mirabeau" title="Victor de Riqueti, marquis de Mirabeau">Mirabeau</a> (1715–1789) had used "mercantilism" earlier. Mercantilism functioned as the economic counterpart of the older version of <a href="/wiki/Political_power" class="mw-redirect" title="Political power">political power</a>: <a href="/wiki/Divine_right_of_kings" title="Divine right of kings">divine right of kings</a> and <a href="/wiki/Absolute_monarchy" title="Absolute monarchy">absolute monarchy</a>.<sup id="cite_ref-41" class="reference"><a href="#cite_note-41"><span class="cite-bracket">[</span>41<span class="cite-bracket">]</span></a></sup> </p><p>Scholars debate over why mercantilism dominated economic ideology for 250 years.<sup id="cite_ref-Ekelund1975p61_42-0" class="reference"><a href="#cite_note-Ekelund1975p61-42"><span class="cite-bracket">[</span>42<span class="cite-bracket">]</span></a></sup> One group, represented by <a href="/wiki/Jacob_Viner" title="Jacob Viner">Jacob Viner</a>, sees mercantilism as simply a straightforward, common-sense system whose <a href="/wiki/Formal_fallacy" title="Formal fallacy">logical fallacies</a> remained opaque to people at the time, as they simply lacked the required analytical tools. </p><p>The second school, supported by scholars such as <a href="/wiki/Robert_B._Ekelund" class="mw-redirect" title="Robert B. Ekelund">Robert B. Ekelund</a>, portrays mercantilism not as a mistake, but rather as the best possible system for those who developed it. This school argues that <a href="/wiki/Rent-seeking" title="Rent-seeking">rent-seeking</a> 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 often developed by academics and philosophers, almost all mercantilist writers were merchants or government officials.<sup id="cite_ref-Niehans1990p19_43-0" class="reference"><a href="#cite_note-Niehans1990p19-43"><span class="cite-bracket">[</span>43<span class="cite-bracket">]</span></a></sup> </p><p><a href="/wiki/Monetarism" title="Monetarism">Monetarism</a> 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 Revolutionary and Napoleonic Wars, when <a href="/wiki/Paper_money" class="mw-redirect" title="Paper money">paper money</a> came into vogue. </p><p>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. </p><p>Mercantilism developed at a time of transition for the European economy. Isolated <a href="/wiki/Feudalism" title="Feudalism">feudal</a> estates were being replaced by centralized <a href="/wiki/Nation-state" class="mw-redirect" title="Nation-state">nation-states</a> as the focus of power. Technological changes in shipping and the growth of urban centers led to a rapid increase in international trade.<sup id="cite_ref-44" class="reference"><a href="#cite_note-44"><span class="cite-bracket">[</span>44<span class="cite-bracket">]</span></a></sup> Mercantilism focused on how this trade could best aid the states. Another important change was the introduction of <a href="/wiki/Double-entry_bookkeeping_system" class="mw-redirect" title="Double-entry bookkeeping system">double-entry bookkeeping</a> 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.<sup id="cite_ref-45" class="reference"><a href="#cite_note-45"><span class="cite-bracket">[</span>45<span class="cite-bracket">]</span></a></sup> New markets and new mines propelled foreign trade to previously inconceivable volumes, resulting in "the great upward movement in prices" and an increase in "the volume of merchant activity itself".<sup id="cite_ref-46" class="reference"><a href="#cite_note-46"><span class="cite-bracket">[</span>46<span class="cite-bracket">]</span></a></sup> </p><p>Prior to mercantilism, the most important economic work done in Europe was by the medieval <a href="/wiki/Scholasticism" title="Scholasticism">scholastic</a> theorists. The goal of these thinkers was to find an economic system compatible with Christian doctrines of piety and justice. They focused mainly on <a href="/wiki/Microeconomics" title="Microeconomics">microeconomics</a> 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 <a href="/wiki/Niccol%C3%B2_Machiavelli" title="Niccolò Machiavelli">Machiavellian</a> <a href="/wiki/Realpolitik" title="Realpolitik">realpolitik</a> and the primacy of the <i><a href="/wiki/National_interest" title="National interest">raison d'état</a></i> in <a href="/wiki/International_relations" title="International relations">international relations</a>. 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 <a href="/wiki/Thomas_Hobbes" title="Thomas Hobbes">Thomas Hobbes</a>. This dark view of human nature also fit well with the <a href="/wiki/Puritan" class="mw-redirect" title="Puritan">Puritan</a> view of the world, and some of the most stridently mercantilist legislation, such as the <a href="/wiki/Navigation_Acts" title="Navigation Acts">Navigation Ordinance</a> of 1651, was enacted by the government of <a href="/wiki/Oliver_Cromwell" title="Oliver Cromwell">Oliver Cromwell</a>.<sup id="cite_ref-47" class="reference"><a href="#cite_note-47"><span class="cite-bracket">[</span>47<span class="cite-bracket">]</span></a></sup> </p><p><a href="/wiki/Jean-Baptiste_Colbert" title="Jean-Baptiste Colbert">Jean-Baptiste Colbert</a>'s work in 17th-century France came to exemplify classical mercantilism. In the English-speaking world, its ideas were criticized by <a href="/wiki/Adam_Smith" title="Adam Smith">Adam Smith</a> with the publication of <i><a href="/wiki/The_Wealth_of_Nations" title="The Wealth of Nations">The Wealth of Nations</a></i> in 1776 and later by <a href="/wiki/David_Ricardo" title="David Ricardo">David Ricardo</a> with his explanation of <a href="/wiki/Comparative_advantage" title="Comparative advantage">comparative advantage</a>. Mercantilism was rejected by Britain and France by the mid-19th century. The British Empire embraced <a href="/wiki/Free-trade" class="mw-redirect" title="Free-trade">free trade</a> and used its power as the financial center of the world to promote the same. The Guyanese historian <a href="/wiki/Walter_Rodney" title="Walter Rodney">Walter Rodney</a> 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. </p> <div class="mw-heading mw-heading2"><h2 id="End_of_mercantilism">End of mercantilism</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Mercantilism&action=edit&section=10" title="Edit section: End of mercantilism"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p><a href="/wiki/Adam_Smith" title="Adam Smith">Adam Smith</a>, <a href="/wiki/David_Hume" title="David Hume">David Hume</a>, <a href="/wiki/Edward_Gibbon" title="Edward Gibbon">Edward Gibbon</a>, <a href="/wiki/Voltaire" title="Voltaire">Voltaire</a> and <a href="/wiki/Jean-Jacques_Rousseau" title="Jean-Jacques Rousseau">Jean-Jacques Rousseau</a> 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, <a href="/wiki/Dudley_North_(economist)" title="Dudley North (economist)">Dudley North</a> and <a href="/wiki/John_Locke" title="John Locke">John Locke</a> undermined much of mercantilism and it steadily lost favor during the 18th century. </p><p>In 1690, Locke argued that prices vary in proportion to the quantity of money. Locke's <i><a href="/wiki/Two_Treatises_of_Government" title="Two Treatises of Government">Second Treatise</a></i> 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 <a href="/wiki/Labor_theory_of_value" title="Labor theory of value">labor theory of value</a>). Mercantilists failed to understand the notions of <a href="/wiki/Absolute_advantage" title="Absolute advantage">absolute advantage</a> and <a href="/wiki/Comparative_advantage" title="Comparative advantage">comparative advantage</a> (although this idea was only fully fleshed out in 1817 by <a href="/wiki/David_Ricardo" title="David Ricardo">David Ricardo</a>) and the benefits of trade.<sup id="cite_ref-48" class="reference"><a href="#cite_note-48"><span class="cite-bracket">[</span>48<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-49" class="reference"><a href="#cite_note-49"><span class="cite-bracket">[</span>note 1<span class="cite-bracket">]</span></a></sup> </p> <figure class="mw-default-size mw-halign-left" typeof="mw:File/Thumb"><a href="/wiki/File:AdamSmith.jpg" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/0/0a/AdamSmith.jpg/170px-AdamSmith.jpg" decoding="async" width="170" height="254" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/0/0a/AdamSmith.jpg/255px-AdamSmith.jpg 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/0/0a/AdamSmith.jpg/340px-AdamSmith.jpg 2x" data-file-width="1456" data-file-height="2173" /></a><figcaption>Much of <a href="/wiki/Adam_Smith" title="Adam Smith">Adam Smith</a>'s <i><a href="/wiki/The_Wealth_of_Nations" title="The Wealth of Nations">The Wealth of Nations</a></i> is an attack on mercantilism.</figcaption></figure> <p>Hume famously noted the impossibility of the mercantilists' goal of a constant positive balance of trade.<sup id="cite_ref-50" class="reference"><a href="#cite_note-50"><span class="cite-bracket">[</span>49<span class="cite-bracket">]</span></a></sup> 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, 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.<sup id="cite_ref-51" class="reference"><a href="#cite_note-51"><span class="cite-bracket">[</span>50<span class="cite-bracket">]</span></a></sup> </p><p>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 same as any other commodity, and that there was no reason to give it special treatment.<sup id="cite_ref-Magnusson_2003_46_17-2" class="reference"><a href="#cite_note-Magnusson_2003_46-17"><span class="cite-bracket">[</span>17<span class="cite-bracket">]</span></a></sup> 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 <a href="/wiki/Charles_Davenant" title="Charles Davenant">Charles Davenant</a>, 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."<sup id="cite_ref-52" class="reference"><a href="#cite_note-52"><span class="cite-bracket">[</span>51<span class="cite-bracket">]</span></a></sup> The critique that mercantilism was a form of rent seeking has also seen criticism, as scholars such as <a href="/wiki/Jacob_Viner" title="Jacob Viner">Jacob Viner</a> in the 1930s pointed out that merchant mercantilists such as Mun understood that they would not gain by higher prices for English wares abroad.<sup id="cite_ref-53" class="reference"><a href="#cite_note-53"><span class="cite-bracket">[</span>52<span class="cite-bracket">]</span></a></sup> </p><p>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 <i><a href="/wiki/The_Wealth_of_Nations" title="The Wealth of Nations">The Wealth of Nations</a></i> in 1776. This book outlines the basics of what is today known as <a href="/wiki/Classical_economics" title="Classical economics">classical economics</a>. 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.<sup id="cite_ref-Niehans1990p19_43-1" class="reference"><a href="#cite_note-Niehans1990p19-43"><span class="cite-bracket">[</span>43<span class="cite-bracket">]</span></a></sup> </p><p>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 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 <a href="/wiki/Group_decision_making" class="mw-redirect" title="Group decision making">group decision making</a>.<sup id="cite_ref-54" class="reference"><a href="#cite_note-54"><span class="cite-bracket">[</span>53<span class="cite-bracket">]</span></a></sup> </p><p>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 <a href="/wiki/Laissez-faire" title="Laissez-faire">laissez-faire</a> 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 <a href="/wiki/French_Revolution" title="French Revolution">French Revolution</a>. In Germany, mercantilism remained an important ideology in the 19th and early 20th centuries, when the <a href="/wiki/Historical_school_of_economics" title="Historical school of economics">historical school of economics</a> was paramount.<sup id="cite_ref-55" class="reference"><a href="#cite_note-55"><span class="cite-bracket">[</span>54<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading2"><h2 id="Legacy">Legacy</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Mercantilism&action=edit&section=11" title="Edit section: Legacy"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>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 <a href="/wiki/Rent_seeking" class="mw-redirect" title="Rent seeking">rent seeking</a>.<sup id="cite_ref-56" class="reference"><a href="#cite_note-56"><span class="cite-bracket">[</span>55<span class="cite-bracket">]</span></a></sup> <a href="/wiki/John_Maynard_Keynes" title="John Maynard Keynes">John Maynard Keynes</a> 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 <a href="/wiki/Paper_money" class="mw-redirect" title="Paper money">paper money</a>, an increase in gold and silver was one of the ways of mercantilism increasing an economy's reserve or the <a href="/wiki/Supply_of_money" class="mw-redirect" title="Supply of money">supply of money</a>. 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.<sup id="cite_ref-57" class="reference"><a href="#cite_note-57"><span class="cite-bracket">[</span>56<span class="cite-bracket">]</span></a></sup> Keynes and other economists of the 20th century also realized that the balance of payments is an important concern. Keynes also supported <a href="/wiki/Government_intervention" class="mw-redirect" title="Government intervention">government intervention</a> in the economy as necessary, as did mercantilism.<sup id="cite_ref-58" class="reference"><a href="#cite_note-58"><span class="cite-bracket">[</span>57<span class="cite-bracket">]</span></a></sup> </p><p>As of 2010<sup class="plainlinks noexcerpt noprint asof-tag update" style="display:none;"><a class="external text" href="https://en.wikipedia.org/w/index.php?title=Mercantilism&action=edit">[update]</a></sup>, the word "mercantilism" remains a pejorative term, often used to attack various forms of <a href="/wiki/Protectionism" title="Protectionism">protectionism</a>.<sup id="cite_ref-59" class="reference"><a href="#cite_note-59"><span class="cite-bracket">[</span>58<span class="cite-bracket">]</span></a></sup> The similarities between Keynesianism (and its successor ideas) and mercantilism have sometimes led critics<sup class="noprint Inline-Template" style="white-space:nowrap;">[<i><a href="/wiki/Wikipedia:Manual_of_Style/Words_to_watch#Unsupported_attributions" title="Wikipedia:Manual of Style/Words to watch"><span title="The material near this tag possibly uses too-vague attribution or weasel words. (January 2020)">who?</span></a></i>]</sup> to call them <a href="/wiki/Neomercantilism" title="Neomercantilism">neomercantilism</a>. </p><p><a href="/wiki/Paul_Samuelson" title="Paul Samuelson">Paul Samuelson</a>, 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."<sup id="cite_ref-60" class="reference"><a href="#cite_note-60"><span class="cite-bracket">[</span>59<span class="cite-bracket">]</span></a></sup> </p><p>Some other systems that copy several mercantilist policies, such as <a href="/wiki/Economy_of_Japan" title="Economy of Japan">Japan's economic system</a>, are also sometimes called <a href="/wiki/Neomercantilism" title="Neomercantilism">neo-mercantilist</a>.<sup id="cite_ref-61" class="reference"><a href="#cite_note-61"><span class="cite-bracket">[</span>60<span class="cite-bracket">]</span></a></sup> In an essay appearing in the May 14, 2007 issue of <i><a href="/wiki/Newsweek" title="Newsweek">Newsweek</a></i>, business columnist <a href="/wiki/Robert_J._Samuelson" title="Robert J. Samuelson">Robert J. Samuelson</a> wrote that <a href="/wiki/China" title="China">China</a> was pursuing an essentially <a href="/wiki/Neomercantilism" title="Neomercantilism">neo-mercantilist</a> trade policy that threatened to undermine the post–<a href="/wiki/World_War_II" title="World War II">World War II</a> international economic structure.<sup id="cite_ref-Samuelson_2007_4-1" class="reference"><a href="#cite_note-Samuelson_2007-4"><span class="cite-bracket">[</span>4<span class="cite-bracket">]</span></a></sup> </p><p><a href="/wiki/Murray_Rothbard" title="Murray Rothbard">Murray Rothbard</a>, representing the <a href="/wiki/Austrian_School" class="mw-redirect" title="Austrian School">Austrian School</a> of economics, describes it this way: </p> <style data-mw-deduplicate="TemplateStyles:r1244412712">.mw-parser-output .templatequote{overflow:hidden;margin:1em 0;padding:0 32px}.mw-parser-output .templatequotecite{line-height:1.5em;text-align:left;margin-top:0}@media(min-width:500px){.mw-parser-output .templatequotecite{padding-left:1.6em}}</style><blockquote class="templatequote"><p>Mercantilism, which reached its height in the Europe of the seventeenth and eighteenth centuries, was a system of <a href="/wiki/Statism" title="Statism">statism</a> 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 discouraged.<sup id="cite_ref-62" class="reference"><a href="#cite_note-62"><span class="cite-bracket">[</span>61<span class="cite-bracket">]</span></a></sup></p></blockquote> <p>Rothbard viewed mercantilism not as a coherent economic theory but rather a series of post-hoc rationalizations for various economic policies by interested parties. </p><p>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 <a href="/wiki/Navigation_Acts" title="Navigation Acts">Navigation Acts</a>, 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.<sup id="cite_ref-63" class="reference"><a href="#cite_note-63"><span class="cite-bracket">[</span>62<span class="cite-bracket">]</span></a></sup> Some economists thus feel that protecting <a href="/wiki/Infant_industry_argument" title="Infant industry argument">infant industries</a>, while causing short-term harm, can be beneficial in the long term. </p> <div class="mw-heading mw-heading2"><h2 id="See_also">See also</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Mercantilism&action=edit&section=12" title="Edit section: See also"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <ul><li><a href="/wiki/Autarky" title="Autarky">Autarky</a></li> <li><a href="/wiki/British_Empire" title="British Empire">British Empire</a></li> <li><a href="/wiki/Money-free_market" class="mw-redirect" title="Money-free market">Money-free market</a></li> <li><a href="/wiki/Neorealism_(international_relations)" title="Neorealism (international relations)">Neorealism (international relations)</a></li> <li><a href="/wiki/Crony_capitalism" title="Crony capitalism">Crony capitalism</a></li></ul> <div style="clear:both;" class=""></div> <div class="mw-heading mw-heading2"><h2 id="Notes">Notes</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Mercantilism&action=edit&section=13" title="Edit section: Notes"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <style data-mw-deduplicate="TemplateStyles:r1239543626">.mw-parser-output .reflist{margin-bottom:0.5em;list-style-type:decimal}@media screen{.mw-parser-output .reflist{font-size:90%}}.mw-parser-output .reflist .references{font-size:100%;margin-bottom:0;list-style-type:inherit}.mw-parser-output .reflist-columns-2{column-width:30em}.mw-parser-output .reflist-columns-3{column-width:25em}.mw-parser-output .reflist-columns{margin-top:0.3em}.mw-parser-output .reflist-columns ol{margin-top:0}.mw-parser-output .reflist-columns li{page-break-inside:avoid;break-inside:avoid-column}.mw-parser-output .reflist-upper-alpha{list-style-type:upper-alpha}.mw-parser-output .reflist-upper-roman{list-style-type:upper-roman}.mw-parser-output .reflist-lower-alpha{list-style-type:lower-alpha}.mw-parser-output .reflist-lower-greek{list-style-type:lower-greek}.mw-parser-output .reflist-lower-roman{list-style-type:lower-roman}</style><div class="reflist"> <div class="mw-references-wrap"><ol class="references"> <li id="cite_note-49"><span class="mw-cite-backlink"><b><a href="#cite_ref-49">^</a></b></span> <span class="reference-text">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, <i>both</i> states would end up <i>better off</i> if they traded. This is an example of the reciprocal benefits of trade (whether due to <a href="/wiki/Comparative_advantage" title="Comparative advantage">comparative</a> or <a href="/wiki/Absolute_advantage" title="Absolute advantage">absolute advantage</a>). In modern economic theory, trade is <i>not</i> a zero-sum game of cutthroat competition, because both sides can benefit from it.</span> </li> </ol></div></div> <div class="mw-heading mw-heading2"><h2 id="References">References</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Mercantilism&action=edit&section=14" title="Edit section: References"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1239543626"><div class="reflist reflist-columns references-column-width" style="column-width: 30em;"> <ol class="references"> <li id="cite_note-1"><span class="mw-cite-backlink"><b><a href="#cite_ref-1">^</a></b></span> <span class="reference-text">Johnson et al <i>History of the domestic and foreign commerce of the United States</i> p. 37.</span> </li> <li id="cite_note-John_J._McCusker_2001-2"><span class="mw-cite-backlink">^ <a href="#cite_ref-John_J._McCusker_2001_2-0"><sup><i><b>a</b></i></sup></a> <a href="#cite_ref-John_J._McCusker_2001_2-1"><sup><i><b>b</b></i></sup></a></span> <span class="reference-text"><a href="/wiki/John_J._McCusker" title="John J. McCusker">John J. McCusker</a>, <i>Mercantilism and the Economic History of the Early Modern Atlantic World</i> (Cambridge UP, 2001)</span> </li> <li id="cite_note-3"><span class="mw-cite-backlink"><b><a href="#cite_ref-3">^</a></b></span> <span class="reference-text">"Mercantilism," Laura LaHaye <i><a href="/wiki/The_Concise_Encyclopedia_of_Economics" class="mw-redirect" title="The Concise Encyclopedia of Economics">The Concise Encyclopedia of Economics</a></i> (2008)</span> </li> <li id="cite_note-Samuelson_2007-4"><span class="mw-cite-backlink">^ <a href="#cite_ref-Samuelson_2007_4-0"><sup><i><b>a</b></i></sup></a> <a href="#cite_ref-Samuelson_2007_4-1"><sup><i><b>b</b></i></sup></a></span> <span class="reference-text"><a href="#CITEREFSamuelson2007">Samuelson 2007</a>.</span> </li> <li id="cite_note-5"><span class="mw-cite-backlink"><b><a href="#cite_ref-5">^</a></b></span> <span class="reference-text"><style data-mw-deduplicate="TemplateStyles:r1238218222">.mw-parser-output cite.citation{font-style:inherit;word-wrap:break-word}.mw-parser-output .citation q{quotes:"\"""\"""'""'"}.mw-parser-output .citation:target{background-color:rgba(0,127,255,0.133)}.mw-parser-output .id-lock-free.id-lock-free a{background:url("//upload.wikimedia.org/wikipedia/commons/6/65/Lock-green.svg")right 0.1em center/9px no-repeat}.mw-parser-output .id-lock-limited.id-lock-limited a,.mw-parser-output .id-lock-registration.id-lock-registration a{background:url("//upload.wikimedia.org/wikipedia/commons/d/d6/Lock-gray-alt-2.svg")right 0.1em center/9px no-repeat}.mw-parser-output .id-lock-subscription.id-lock-subscription a{background:url("//upload.wikimedia.org/wikipedia/commons/a/aa/Lock-red-alt-2.svg")right 0.1em center/9px no-repeat}.mw-parser-output .cs1-ws-icon a{background:url("//upload.wikimedia.org/wikipedia/commons/4/4c/Wikisource-logo.svg")right 0.1em center/12px no-repeat}body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-free a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-limited a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-registration a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-subscription a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .cs1-ws-icon a{background-size:contain;padding:0 1em 0 0}.mw-parser-output .cs1-code{color:inherit;background:inherit;border:none;padding:inherit}.mw-parser-output .cs1-hidden-error{display:none;color:var(--color-error,#d33)}.mw-parser-output .cs1-visible-error{color:var(--color-error,#d33)}.mw-parser-output .cs1-maint{display:none;color:#085;margin-left:0.3em}.mw-parser-output .cs1-kern-left{padding-left:0.2em}.mw-parser-output .cs1-kern-right{padding-right:0.2em}.mw-parser-output .citation .mw-selflink{font-weight:inherit}@media screen{.mw-parser-output .cs1-format{font-size:95%}html.skin-theme-clientpref-night .mw-parser-output .cs1-maint{color:#18911f}}@media screen and (prefers-color-scheme:dark){html.skin-theme-clientpref-os .mw-parser-output .cs1-maint{color:#18911f}}</style><cite id="CITEREFkanopiadmin2017" class="citation news cs1">kanopiadmin (2017-02-15). <a rel="nofollow" class="external text" href="https://mises.org/library/mercantilism-lesson-our-times">"Mercantilism: A Lesson for Our Times? | Murray N. Rothbard"</a>. <i>Mises Institute</i><span class="reference-accessdate">. Retrieved <span class="nowrap">2018-09-11</span></span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=Mises+Institute&rft.atitle=Mercantilism%3A+A+Lesson+for+Our+Times%3F+%7C+Murray+N.+Rothbard&rft.date=2017-02-15&rft.au=kanopiadmin&rft_id=https%3A%2F%2Fmises.org%2Flibrary%2Fmercantilism-lesson-our-times&rfr_id=info%3Asid%2Fen.wikipedia.org%3AMercantilism" class="Z3988"></span></span> </li> <li id="cite_note-6"><span class="mw-cite-backlink"><b><a href="#cite_ref-6">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://krugman.blogs.nytimes.com/2009/12/31/macroeconomic-effects-of-chinese-mercantilism/">"Macroeconomic effects of Chinese mercantilism"</a>. 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March 2, 2016.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=PIIE&rft.atitle=Learning+from+Chinese+Mercantilism&rft.date=2016-03-02&rft_id=https%3A%2F%2Fwww.piie.com%2Fcommentary%2Fop-eds%2Flearning-chinese-mercantilism&rfr_id=info%3Asid%2Fen.wikipedia.org%3AMercantilism" class="Z3988"></span></span> </li> <li id="cite_note-List1916-10"><span class="mw-cite-backlink"><b><a href="#cite_ref-List1916_10-0">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFFriedrich_List1916" class="citation book cs1">Friedrich List (1916). <a rel="nofollow" class="external text" href="https://archive.org/details/nationalsystemp00nichgoog"><i>The National System of Political Economy</i></a>. A.M. Kelley. p. <a rel="nofollow" class="external text" href="https://archive.org/details/nationalsystemp00nichgoog/page/n315">265</a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=The+National+System+of+Political+Economy&rft.pages=265&rft.pub=A.M.+Kelley&rft.date=1916&rft.au=Friedrich+List&rft_id=https%3A%2F%2Farchive.org%2Fdetails%2Fnationalsystemp00nichgoog&rfr_id=info%3Asid%2Fen.wikipedia.org%3AMercantilism" class="Z3988"></span></span> </li> <li id="cite_note-11"><span class="mw-cite-backlink"><b><a href="#cite_ref-11">^</a></b></span> <span class="reference-text">Now attributed to <a href="/wiki/Thomas_Smith_(diplomat)" title="Thomas Smith (diplomat)">Sir Thomas Smith</a>; quoted in <a href="#CITEREFBraudel1979">Braudel (1979)</a>, p. 204.</span> </li> <li id="cite_note-12"><span class="mw-cite-backlink"><b><a href="#cite_ref-12">^</a></b></span> <span class="reference-text"> Jerome Blum et al. <i>The European World: A history</i> (1970) p. 279.</span> </li> <li id="cite_note-13"><span class="mw-cite-backlink"><b><a href="#cite_ref-13">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFGiorgio_Riello,_Tirthankar_Roy2009" class="citation book cs1">Giorgio Riello, Tirthankar Roy (2009). <a rel="nofollow" class="external text" href="https://books.google.com/books?id=niuwCQAAQBAJ&pg=PA174"><i>How India Clothed the World: The World of South Asian Textiles, 1500–1850</i></a>. <a href="/wiki/Brill_Publishers" title="Brill Publishers">Brill Publishers</a>. p. 174. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/978-90-474-2997-5" title="Special:BookSources/978-90-474-2997-5"><bdi>978-90-474-2997-5</bdi></a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=How+India+Clothed+the+World%3A+The+World+of+South+Asian+Textiles%2C+1500%E2%80%931850&rft.pages=174&rft.pub=Brill+Publishers&rft.date=2009&rft.isbn=978-90-474-2997-5&rft.au=Giorgio+Riello%2C+Tirthankar+Roy&rft_id=https%3A%2F%2Fbooks.google.com%2Fbooks%3Fid%3DniuwCQAAQBAJ%26pg%3DPA174&rfr_id=info%3Asid%2Fen.wikipedia.org%3AMercantilism" class="Z3988"></span></span> </li> <li id="cite_note-14"><span class="mw-cite-backlink"><b><a href="#cite_ref-14">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFAbhay_Kumar_Singh2006" class="citation book cs1">Abhay Kumar Singh (2006). <i>Modern World System and Indian Proto-industrialization: Bengal 1650–1800, (Volume 1)</i>. Northern Book Centre. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/978-81-7211-201-1" title="Special:BookSources/978-81-7211-201-1"><bdi>978-81-7211-201-1</bdi></a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=Modern+World+System+and+Indian+Proto-industrialization%3A+Bengal+1650%E2%80%931800%2C+%28Volume+1%29&rft.pub=Northern+Book+Centre&rft.date=2006&rft.isbn=978-81-7211-201-1&rft.au=Abhay+Kumar+Singh&rfr_id=info%3Asid%2Fen.wikipedia.org%3AMercantilism" class="Z3988"></span></span> </li> <li id="cite_note-15"><span class="mw-cite-backlink"><b><a href="#cite_ref-15">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFSanjay_Subrahmanyam1998" class="citation book cs1"><a href="/wiki/Sanjay_Subrahmanyam" title="Sanjay Subrahmanyam">Sanjay Subrahmanyam</a> (1998). <i>Money and the Market in India, 1100–1700</i>. Oxford University Press. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/978-0-521-25758-9" title="Special:BookSources/978-0-521-25758-9"><bdi>978-0-521-25758-9</bdi></a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=Money+and+the+Market+in+India%2C+1100%E2%80%931700&rft.pub=Oxford+University+Press&rft.date=1998&rft.isbn=978-0-521-25758-9&rft.au=Sanjay+Subrahmanyam&rfr_id=info%3Asid%2Fen.wikipedia.org%3AMercantilism" class="Z3988"></span></span> </li> <li id="cite_note-16"><span class="mw-cite-backlink"><b><a href="#cite_ref-16">^</a></b></span> <span class="reference-text"> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFHumphrey" class="citation web cs1">Humphrey, Thomas M. <a rel="nofollow" class="external text" href="https://www.richmondfed.org/~/media/richmondfedorg/publications/research/annual_report/1998/pdf/article.pdf">"Insights From Doctrinal History. Mercantilists. Classicals"</a> <span class="cs1-format">(PDF)</span>. <i>Richmond Federal Reserve</i><span class="reference-accessdate">. Retrieved <span class="nowrap">14 June</span> 2018</span>. <q>[...] the mercantilism of <a href="/wiki/John_Law_(economist)" title="John Law (economist)">John Law</a> and Sir <a href="/wiki/James_Steuart_(economist)" title="James Steuart (economist)">James Steuart</a> gave way to the classicism of <a href="/wiki/David_Hume" title="David Hume">David Hume</a> and <a href="/wiki/David_Ricardo" title="David Ricardo">David Ricardo</a> [...].</q></cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=Richmond+Federal+Reserve&rft.atitle=Insights+From+Doctrinal+History.+Mercantilists.+Classicals&rft.aulast=Humphrey&rft.aufirst=Thomas+M.&rft_id=https%3A%2F%2Fwww.richmondfed.org%2F~%2Fmedia%2Frichmondfedorg%2Fpublications%2Fresearch%2Fannual_report%2F1998%2Fpdf%2Farticle.pdf&rfr_id=info%3Asid%2Fen.wikipedia.org%3AMercantilism" class="Z3988"></span></span> </li> <li id="cite_note-Magnusson_2003_46-17"><span class="mw-cite-backlink">^ <a href="#cite_ref-Magnusson_2003_46_17-0"><sup><i><b>a</b></i></sup></a> <a href="#cite_ref-Magnusson_2003_46_17-1"><sup><i><b>b</b></i></sup></a> <a href="#cite_ref-Magnusson_2003_46_17-2"><sup><i><b>c</b></i></sup></a></span> <span class="reference-text"><a href="#CITEREFMagnusson2003">Magnusson 2003</a>, p. 46.</span> </li> <li id="cite_note-18"><span class="mw-cite-backlink"><b><a href="#cite_ref-18">^</a></b></span> <span class="reference-text"><a href="#CITEREFMagnusson2003">Magnusson 2003</a>, 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, <i>A Discourse of Trade from England unto the East Indies</i> (1621) and perhaps the more important <i>England's Treasure by Forraign Trade</i> (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."</span> </li> <li id="cite_note-19"><span class="mw-cite-backlink"><b><a href="#cite_ref-19">^</a></b></span> <span class="reference-text"><a href="#CITEREFMagnusson2003">Magnusson 2003</a>, p. 50.</span> </li> <li id="cite_note-20"><span class="mw-cite-backlink"><b><a href="#cite_ref-20">^</a></b></span> <span class="reference-text"><a href="#CITEREFEkelundHébert1997">Ekelund & Hébert 1997</a>, pp. 40–41.</span> </li> <li id="cite_note-21"><span class="mw-cite-backlink"><b><a href="#cite_ref-21">^</a></b></span> <span class="reference-text"><a href="#CITEREFLandrethColander2002">Landreth & Colander 2002</a>, p. 44.</span> </li> <li id="cite_note-22"><span class="mw-cite-backlink"><b><a href="#cite_ref-22">^</a></b></span> <span class="reference-text"><a href="#CITEREFEkelundTollison1981">Ekelund & Tollison 1981</a>, p. 154.</span> </li> <li id="cite_note-23"><span class="mw-cite-backlink"><b><a href="#cite_ref-23">^</a></b></span> <span class="reference-text"><a href="#CITEREFEkelundTollison1981">Ekelund & Tollison 1981</a>, p. 9.</span> </li> <li id="cite_note-24"><span class="mw-cite-backlink"><b><a href="#cite_ref-24">^</a></b></span> <span class="reference-text"><a href="#CITEREFLandrethColander2002">Landreth & Colander 2002</a>, p. 48.</span> </li> <li id="cite_note-25"><span class="mw-cite-backlink"><b><a href="#cite_ref-25">^</a></b></span> <span class="reference-text"><a href="#CITEREFLandes1997">Landes 1997</a>, p. 31.</span> </li> <li id="cite_note-26"><span class="mw-cite-backlink"><b><a href="#cite_ref-26">^</a></b></span> <span class="reference-text"><a href="#CITEREFEkelundHébert1975">Ekelund & Hébert 1975</a>, p. 36.</span> </li> <li id="cite_note-27"><span class="mw-cite-backlink"><b><a href="#cite_ref-27">^</a></b></span> <span class="reference-text"><a href="#CITEREFKellenbenz1976">Kellenbenz 1976</a>, p. 29.</span> </li> <li id="cite_note-E.N._Williams._pg._177-83-28"><span class="mw-cite-backlink">^ <a href="#cite_ref-E.N._Williams._pg._177-83_28-0"><sup><i><b>a</b></i></sup></a> <a href="#cite_ref-E.N._Williams._pg._177-83_28-1"><sup><i><b>b</b></i></sup></a></span> <span class="reference-text"><a href="#CITEREFWilliams1999">Williams 1999</a>, pp. 177–183.</span> </li> <li id="cite_note-29"><span class="mw-cite-backlink"><b><a href="#cite_ref-29">^</a></b></span> <span class="reference-text"><a href="#CITEREFHansen2001">Hansen 2001</a>, p. 65.</span> </li> <li id="cite_note-30"><span class="mw-cite-backlink"><b><a href="#cite_ref-30">^</a></b></span> <span class="reference-text"><a href="#CITEREFHill1980">Hill 1980</a>, p. 32.</span> </li> <li id="cite_note-31"><span class="mw-cite-backlink"><b><a href="#cite_ref-31">^</a></b></span> <span class="reference-text"><a href="#CITEREFNester2000">Nester 2000</a>, p. 54.</span> </li> <li id="cite_note-:1-32"><span class="mw-cite-backlink">^ <a href="#cite_ref-:1_32-0"><sup><i><b>a</b></i></sup></a> <a href="#cite_ref-:1_32-1"><sup><i><b>b</b></i></sup></a></span> <span class="reference-text">Max Savelle, <a rel="nofollow" class="external text" href="https://books.google.com/books?id=hIgl_HNozQsC&pg=PA204"><i>Seeds of Liberty: The Genesis of the American Mind</i> (1948) pp. 204ff.</a></span> </li> <li id="cite_note-:2-33"><span class="mw-cite-backlink">^ <a href="#cite_ref-:2_33-0"><sup><i><b>a</b></i></sup></a> <a href="#cite_ref-:2_33-1"><sup><i><b>b</b></i></sup></a></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFFrieden,_Jeffry_A.Lake,_David_A.2014" class="citation book cs1">Frieden, Jeffry A.; Lake, David A. (2014). <a rel="nofollow" class="external text" href="https://books.google.com/books?id=l-eAAgAAQBAJ&pg=PA132"><i>International Political Economy: Perspectives on Global Power and Wealth</i></a> (4th ed.). Routledge. pp. 128ff. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/978-1-134-59595-2" title="Special:BookSources/978-1-134-59595-2"><bdi>978-1-134-59595-2</bdi></a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=International+Political+Economy%3A+Perspectives+on+Global+Power+and+Wealth&rft.pages=128ff&rft.edition=4th&rft.pub=Routledge&rft.date=2014&rft.isbn=978-1-134-59595-2&rft.au=Frieden%2C+Jeffry+A.&rft.au=Lake%2C+David+A.&rft_id=https%3A%2F%2Fbooks.google.com%2Fbooks%3Fid%3Dl-eAAgAAQBAJ%26pg%3DPA132&rfr_id=info%3Asid%2Fen.wikipedia.org%3AMercantilism" class="Z3988"></span></span> </li> <li id="cite_note-34"><span class="mw-cite-backlink"><b><a href="#cite_ref-34">^</a></b></span> <span class="reference-text"><a href="#CITEREFWilson1963">Wilson 1963</a>, p. 15.</span> </li> <li id="cite_note-35"><span class="mw-cite-backlink"><b><a href="#cite_ref-35">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFRothbard2010" class="citation web cs1">Rothbard, Murray (2010). <a rel="nofollow" class="external text" href="https://mises.org/library/mercantilism-spain">"Mercantilism in Spain"</a>. <i>Mises Institute</i>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=Mises+Institute&rft.atitle=Mercantilism+in+Spain&rft.date=2010&rft.aulast=Rothbard&rft.aufirst=Murray&rft_id=https%3A%2F%2Fmises.org%2Flibrary%2Fmercantilism-spain&rfr_id=info%3Asid%2Fen.wikipedia.org%3AMercantilism" class="Z3988"></span></span> </li> <li id="cite_note-36"><span class="mw-cite-backlink"><b><a href="#cite_ref-36">^</a></b></span> <span class="reference-text"><a href="#CITEREFSpiegel1991">Spiegel 1991</a>, pp. 93–118.</span> </li> <li id="cite_note-37"><span class="mw-cite-backlink"><b><a href="#cite_ref-37">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFEmory_Richard_Johnson1915" class="citation book cs1">Emory Richard Johnson; et al. (1915). <a rel="nofollow" class="external text" href="https://archive.org/details/historyofdomesti02johnuoft"><i>History of domestic and foreign commerce of the United States</i></a>. Carnegie Institution of Washington. pp. <a rel="nofollow" class="external text" href="https://archive.org/details/historyofdomesti02johnuoft/page/35">35</a>–37.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=History+of+domestic+and+foreign+commerce+of+the+United+States&rft.pages=35-37&rft.pub=Carnegie+Institution+of+Washington&rft.date=1915&rft.au=Emory+Richard+Johnson&rft_id=https%3A%2F%2Farchive.org%2Fdetails%2Fhistoryofdomesti02johnuoft&rfr_id=info%3Asid%2Fen.wikipedia.org%3AMercantilism" class="Z3988"></span></span> </li> <li id="cite_note-:3-38"><span class="mw-cite-backlink">^ <a href="#cite_ref-:3_38-0"><sup><i><b>a</b></i></sup></a> <a href="#cite_ref-:3_38-1"><sup><i><b>b</b></i></sup></a></span> <span class="reference-text">Miller, C. L. 2008. "Introduction." p. 14 in <i>The French Atlantic triangle: literature and culture of the slave trade</i>. Duke University Press.</span> </li> <li id="cite_note-:0-39"><span class="mw-cite-backlink">^ <a href="#cite_ref-:0_39-0"><sup><i><b>a</b></i></sup></a> <a href="#cite_ref-:0_39-1"><sup><i><b>b</b></i></sup></a></span> <span class="reference-text">Miller, C. L. 2008. "Introduction." pp. 1–39 in <i>The French Atlantic triangle: literature and culture of the slave trade</i>. Duke University Press.</span> </li> <li id="cite_note-40"><span class="mw-cite-backlink"><b><a href="#cite_ref-40">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFGauci2011" class="citation book cs1">Gauci, Perry (2011). <i>Regulating the British Economy, 1660–1850</i>. Farnham: Ashgate Pub. p. 83. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/978-0-7546-9762-6" title="Special:BookSources/978-0-7546-9762-6"><bdi>978-0-7546-9762-6</bdi></a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=Regulating+the+British+Economy%2C+1660%E2%80%931850&rft.place=Farnham&rft.pages=83&rft.pub=Ashgate+Pub.&rft.date=2011&rft.isbn=978-0-7546-9762-6&rft.aulast=Gauci&rft.aufirst=Perry&rfr_id=info%3Asid%2Fen.wikipedia.org%3AMercantilism" class="Z3988"></span></span> </li> <li id="cite_note-41"><span class="mw-cite-backlink"><b><a href="#cite_ref-41">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://www.britannica.com/topic/mercantilism">"Mercantilism: Definition & Examples"</a>. <i>Encyclopedia Britannica</i>. 22 August 2023.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=Encyclopedia+Britannica&rft.atitle=Mercantilism%3A+Definition+%26+Examples&rft.date=2023-08-22&rft_id=https%3A%2F%2Fwww.britannica.com%2Ftopic%2Fmercantilism&rfr_id=info%3Asid%2Fen.wikipedia.org%3AMercantilism" class="Z3988"></span></span> </li> <li id="cite_note-Ekelund1975p61-42"><span class="mw-cite-backlink"><b><a href="#cite_ref-Ekelund1975p61_42-0">^</a></b></span> <span class="reference-text"><a href="#CITEREFEkelundHébert1975">Ekelund & Hébert 1975</a>, p. 61.</span> </li> <li id="cite_note-Niehans1990p19-43"><span class="mw-cite-backlink">^ <a href="#cite_ref-Niehans1990p19_43-0"><sup><i><b>a</b></i></sup></a> <a href="#cite_ref-Niehans1990p19_43-1"><sup><i><b>b</b></i></sup></a></span> <span class="reference-text"><a href="#CITEREFNiehans1990">Niehans 1990</a>, p. 19.</span> </li> <li id="cite_note-44"><span class="mw-cite-backlink"><b><a href="#cite_ref-44">^</a></b></span> <span class="reference-text"><a href="#CITEREFLandrethColander2002">Landreth & Colander 2002</a>, p. 43.</span> </li> <li id="cite_note-45"><span class="mw-cite-backlink"><b><a href="#cite_ref-45">^</a></b></span> <span class="reference-text"><a href="#CITEREFWilson1963">Wilson 1963</a>, p. 10.</span> </li> <li id="cite_note-46"><span class="mw-cite-backlink"><b><a href="#cite_ref-46">^</a></b></span> <span class="reference-text"><a href="#CITEREFGalbraith1987">Galbraith 1987</a>, pp. 33–34.</span> </li> <li id="cite_note-47"><span class="mw-cite-backlink"><b><a href="#cite_ref-47">^</a></b></span> <span class="reference-text"><a href="#CITEREFLandrethColander2002">Landreth & Colander 2002</a>, p. 53.</span> </li> <li id="cite_note-48"><span class="mw-cite-backlink"><b><a href="#cite_ref-48">^</a></b></span> <span class="reference-text"><a href="#CITEREFSpiegel1991">Spiegel 1991</a>, ch. 8.</span> </li> <li id="cite_note-50"><span class="mw-cite-backlink"><b><a href="#cite_ref-50">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFDutta2010" class="citation book cs1">Dutta, Bholanath (2010). <i>International Business Management Text Cases</i>. Excel Books. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/978-81-7446-867-3" title="Special:BookSources/978-81-7446-867-3"><bdi>978-81-7446-867-3</bdi></a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=International+Business+Management+Text+Cases&rft.pub=Excel+Books&rft.date=2010&rft.isbn=978-81-7446-867-3&rft.aulast=Dutta&rft.aufirst=Bholanath&rfr_id=info%3Asid%2Fen.wikipedia.org%3AMercantilism" class="Z3988"></span></span> </li> <li id="cite_note-51"><span class="mw-cite-backlink"><b><a href="#cite_ref-51">^</a></b></span> <span class="reference-text"><a href="#CITEREFEkelundHébert1975">Ekelund & Hébert 1975</a>, p. 43.</span> </li> <li id="cite_note-52"><span class="mw-cite-backlink"><b><a href="#cite_ref-52">^</a></b></span> <span class="reference-text">Referenced to Davenant, 1771 [1699], p. 171, in <a href="#CITEREFMagnusson2003">Magnusson 2003</a>, p. 53.</span> </li> <li id="cite_note-53"><span class="mw-cite-backlink"><b><a href="#cite_ref-53">^</a></b></span> <span class="reference-text"><a href="#CITEREFMagnusson2003">Magnusson 2003</a>, p. 54.</span> </li> <li id="cite_note-54"><span class="mw-cite-backlink"><b><a href="#cite_ref-54">^</a></b></span> <span class="reference-text"><a href="#CITEREFEkelundTollison1981">Ekelund & Tollison 1981</a>.</span> </li> <li id="cite_note-55"><span class="mw-cite-backlink"><b><a href="#cite_ref-55">^</a></b></span> <span class="reference-text"><a href="#CITEREFWilson1963">Wilson 1963</a>, p. 6.</span> </li> <li id="cite_note-56"><span class="mw-cite-backlink"><b><a href="#cite_ref-56">^</a></b></span> <span class="reference-text"><a href="#CITEREFBrezis2003">Brezis 2003</a>, vol. 2, p. 484.</span> </li> <li id="cite_note-57"><span class="mw-cite-backlink"><b><a href="#cite_ref-57">^</a></b></span> <span class="reference-text"><a href="#CITEREFHarris1950">Harris 1950</a>, p. 321.</span> </li> <li id="cite_note-58"><span class="mw-cite-backlink"><b><a href="#cite_ref-58">^</a></b></span> <span class="reference-text">See <a href="#CITEREFMarkwell2006">Markwell 2006</a>.</span> </li> <li id="cite_note-59"><span class="mw-cite-backlink"><b><a href="#cite_ref-59">^</a></b></span> <span class="reference-text"><a href="#CITEREFWilson1963">Wilson 1963</a>, p. 3.</span> </li> <li id="cite_note-60"><span class="mw-cite-backlink"><b><a href="#cite_ref-60">^</a></b></span> <span class="reference-text"><a href="#CITEREFSamuelson1964">Samuelson 1964</a>.</span> </li> <li id="cite_note-61"><span class="mw-cite-backlink"><b><a href="#cite_ref-61">^</a></b></span> <span class="reference-text"><a href="#CITEREFWaltersBlake1976">Walters & Blake 1976</a>.</span> </li> <li id="cite_note-62"><span class="mw-cite-backlink"><b><a href="#cite_ref-62">^</a></b></span> <span class="reference-text"><a href="#CITEREFRothbard1997">Rothbard 1997</a>, p. 43.</span> </li> <li id="cite_note-63"><span class="mw-cite-backlink"><b><a href="#cite_ref-63">^</a></b></span> <span class="reference-text"><a href="#CITEREFHansen2001">Hansen 2001</a>, p. 64.</span> </li> </ol></div> <div class="mw-heading mw-heading2"><h2 id="Further_reading">Further reading</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Mercantilism&action=edit&section=15" title="Edit section: Further reading"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <ul><li><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFAmes1996" class="citation cs2"><a href="/wiki/Glenn_J._Ames" title="Glenn J. Ames">Ames, Glenn J.</a> (1996), <i>Colbert, Mercantilism and the French Quest for the Asian Trade</i></cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=Colbert%2C+Mercantilism+and+the+French+Quest+for+the+Asian+Trade&rft.date=1996&rft.aulast=Ames&rft.aufirst=Glenn+J.&rfr_id=info%3Asid%2Fen.wikipedia.org%3AMercantilism" class="Z3988"></span></li> <li><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFBraudel1979" class="citation cs2"><a href="/wiki/Fernand_Braudel" title="Fernand Braudel">Braudel, Fernand</a> (1979), "The Wheels of Commerce", <i>Civilization and Capitalism 15th–18th Century</i></cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=bookitem&rft.atitle=The+Wheels+of+Commerce&rft.btitle=Civilization+and+Capitalism+15th%E2%80%9318th+Century&rft.date=1979&rft.aulast=Braudel&rft.aufirst=Fernand&rfr_id=info%3Asid%2Fen.wikipedia.org%3AMercantilism" class="Z3988"></span></li> <li><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFBrezis2003" class="citation cs2"><a href="/wiki/Elise_Brezis" title="Elise Brezis">Brezis, Elise S.</a> (2003), "Mercantilism", <i>The Oxford Encyclopedia of Economic History</i>, Oxford University Press</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=bookitem&rft.atitle=Mercantilism&rft.btitle=The+Oxford+Encyclopedia+of+Economic+History&rft.pub=Oxford+University+Press&rft.date=2003&rft.aulast=Brezis&rft.aufirst=Elise+S.&rfr_id=info%3Asid%2Fen.wikipedia.org%3AMercantilism" class="Z3988"></span></li> <li><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation cs2"><a rel="nofollow" class="external text" href="https://www.britannica.com/EBchecked/topic/375578/mercantilism">"Mercantilism"</a>, <i>Encyclopædia Britannica</i>, Oxford University Press, 2014</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=bookitem&rft.atitle=Mercantilism&rft.btitle=Encyclop%C3%A6dia+Britannica&rft.pub=Oxford+University+Press&rft.date=2014&rft_id=https%3A%2F%2Fwww.britannica.com%2FEBchecked%2Ftopic%2F375578%2Fmercantilism&rfr_id=info%3Asid%2Fen.wikipedia.org%3AMercantilism" class="Z3988"></span></li> <li><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFEkelundHébert1975" class="citation cs2">Ekelund, Robert B.; Hébert, Robert F. (1975), <a rel="nofollow" class="external text" href="https://archive.org/details/historyofeconomi0000ekel_j2f0"><i>A History of Economic Theory and Method</i></a>, New York: McGraw–Hill, <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/978-0-07-019143-3" title="Special:BookSources/978-0-07-019143-3"><bdi>978-0-07-019143-3</bdi></a></cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=A+History+of+Economic+Theory+and+Method&rft.place=New+York&rft.pub=McGraw%E2%80%93Hill&rft.date=1975&rft.isbn=978-0-07-019143-3&rft.aulast=Ekelund&rft.aufirst=Robert+B.&rft.au=H%C3%A9bert%2C+Robert+F.&rft_id=https%3A%2F%2Farchive.org%2Fdetails%2Fhistoryofeconomi0000ekel_j2f0&rfr_id=info%3Asid%2Fen.wikipedia.org%3AMercantilism" class="Z3988"></span></li> <li><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFEkelundHébert1997" class="citation cs2">Ekelund, Robert B. Jr.; Hébert, Robert F. (1997), <i>A History of Economic Theory and Method</i> (4th ed.), Long Grove, IL: Waveland Press, <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/978-1-57766-381-2" title="Special:BookSources/978-1-57766-381-2"><bdi>978-1-57766-381-2</bdi></a></cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=A+History+of+Economic+Theory+and+Method&rft.place=Long+Grove%2C+IL&rft.edition=4th&rft.pub=Waveland+Press&rft.date=1997&rft.isbn=978-1-57766-381-2&rft.aulast=Ekelund&rft.aufirst=Robert+B.+Jr.&rft.au=H%C3%A9bert%2C+Robert+F.&rfr_id=info%3Asid%2Fen.wikipedia.org%3AMercantilism" class="Z3988"></span></li> <li><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFEkelundTollison1981" class="citation cs2">Ekelund, Robert B.; Tollison, Robert D. (1981), <i>Mercantilism as a Rent-Seeking Society: Economic Regulation in Historical Perspective</i>, College Station: Texas A&M University Press, <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/978-0-89096-120-9" title="Special:BookSources/978-0-89096-120-9"><bdi>978-0-89096-120-9</bdi></a></cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=Mercantilism+as+a+Rent-Seeking+Society%3A+Economic+Regulation+in+Historical+Perspective&rft.place=College+Station&rft.pub=Texas+A%26M+University+Press&rft.date=1981&rft.isbn=978-0-89096-120-9&rft.aulast=Ekelund&rft.aufirst=Robert+B.&rft.au=Tollison%2C+Robert+D.&rfr_id=info%3Asid%2Fen.wikipedia.org%3AMercantilism" class="Z3988"></span></li> <li><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFGalbraith1987" class="citation cs2"><a href="/wiki/John_Kenneth_Galbraith" title="John Kenneth Galbraith">Galbraith, John Kenneth</a> (1987), <a rel="nofollow" class="external text" href="https://archive.org/details/economicsinpersp00galb_0"><i>Economics in Perspective: A Critical History</i></a>, Boston: Houghton Mifflin, <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/978-0-395-35572-5" title="Special:BookSources/978-0-395-35572-5"><bdi>978-0-395-35572-5</bdi></a></cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=Economics+in+Perspective%3A+A+Critical+History&rft.place=Boston&rft.pub=Houghton+Mifflin&rft.date=1987&rft.isbn=978-0-395-35572-5&rft.aulast=Galbraith&rft.aufirst=John+Kenneth&rft_id=https%3A%2F%2Farchive.org%2Fdetails%2Feconomicsinpersp00galb_0&rfr_id=info%3Asid%2Fen.wikipedia.org%3AMercantilism" class="Z3988"></span></li> <li><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFGrant2009" class="citation cs2">Grant, R. George (2009), <i>Tackling the Poverty of Nations: Why So Many Are Poor and What We Can Do About It</i>, Xlibris, <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/978-1-4363-3582-9" title="Special:BookSources/978-1-4363-3582-9"><bdi>978-1-4363-3582-9</bdi></a></cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=Tackling+the+Poverty+of+Nations%3A+Why+So+Many+Are+Poor+and+What+We+Can+Do+About+It&rft.pub=Xlibris&rft.date=2009&rft.isbn=978-1-4363-3582-9&rft.aulast=Grant&rft.aufirst=R.+George&rfr_id=info%3Asid%2Fen.wikipedia.org%3AMercantilism" class="Z3988"></span></li> <li><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFHansen2001" class="citation cs2">Hansen, E. 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(1950), <i>New Economics: Keynes' Influence on Theory And Public Policy</i></cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=New+Economics%3A+Keynes%27+Influence+on+Theory+And+Public+Policy&rft.date=1950&rft.aulast=Harris&rft.aufirst=Seymour+E.&rfr_id=info%3Asid%2Fen.wikipedia.org%3AMercantilism" class="Z3988"></span></li> <li>Heckscher, Eli F. (1936) "Revisions in Economic History: V. Mercantilism." <i><a href="/wiki/Economic_History_Review" class="mw-redirect" title="Economic History Review">Economic History Review</a>,</i> 7#1 1936, pp. 44–54. <a rel="nofollow" class="external text" href="https://www.jstor.org/stable/2590732">online</a></li> <li><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFHeckscher1935" class="citation cs2">Heckscher, Eli F. (1935), <i>Mercantilism</i>, London: Allen & Unwin</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=Mercantilism&rft.place=London&rft.pub=Allen+%26+Unwin&rft.date=1935&rft.aulast=Heckscher&rft.aufirst=Eli+F.&rfr_id=info%3Asid%2Fen.wikipedia.org%3AMercantilism" class="Z3988"></span></li> <li><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFHill1980" class="citation cs2"><a href="/wiki/Christopher_Hill_(historian)" title="Christopher Hill (historian)">Hill, Christopher</a> (1980) [1961], <i>The Century of Revolution, 1603–1714</i> (2nd ed.), Nelson, <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/978-0-17-712002-2" title="Special:BookSources/978-0-17-712002-2"><bdi>978-0-17-712002-2</bdi></a></cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=The+Century+of+Revolution%2C+1603%E2%80%931714&rft.edition=2nd&rft.pub=Nelson&rft.date=1980&rft.isbn=978-0-17-712002-2&rft.aulast=Hill&rft.aufirst=Christopher&rfr_id=info%3Asid%2Fen.wikipedia.org%3AMercantilism" class="Z3988"></span></li> <li><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFJohnson1974" class="citation cs2">Johnson, Harky G. 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In <a href="/wiki/David_R._Henderson" title="David R. Henderson">Henderson, David R.</a> (ed.). <i>The Concise Encyclopedia of Economics</i>. Indianapolis, IN: <a href="/wiki/Liberty_Fund,_Inc." class="mw-redirect" title="Liberty Fund, Inc.">Liberty Fund, Inc.</a> pp. 340–343. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/978-0-86597-666-5" title="Special:BookSources/978-0-86597-666-5"><bdi>978-0-86597-666-5</bdi></a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=bookitem&rft.atitle=Mercantilism&rft.btitle=The+Concise+Encyclopedia+of+Economics&rft.place=Indianapolis%2C+IN&rft.pages=340-343&rft.pub=Liberty+Fund%2C+Inc.&rft.date=2008&rft.isbn=978-0-86597-666-5&rft.au=LaHaye%2C+Laura&rft_id=https%3A%2F%2Fwww.econlib.org%2Flibrary%2FEnc%2FMercantilism.html&rfr_id=info%3Asid%2Fen.wikipedia.org%3AMercantilism" class="Z3988"></span></li> <li><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFLandes1997" class="citation cs2">Landes, David S. (1997), <i>The Unbound Prometheus: Technological Change and Industrial Development in Western Europe from 1750 to the Present</i>, Cambridge: Cambridge University Press, <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/978-0-521-09418-4" title="Special:BookSources/978-0-521-09418-4"><bdi>978-0-521-09418-4</bdi></a></cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=The+Unbound+Prometheus%3A+Technological+Change+and+Industrial+Development+in+Western+Europe+from+1750+to+the+Present&rft.place=Cambridge&rft.pub=Cambridge+University+Press&rft.date=1997&rft.isbn=978-0-521-09418-4&rft.aulast=Landes&rft.aufirst=David+S.&rfr_id=info%3Asid%2Fen.wikipedia.org%3AMercantilism" class="Z3988"></span></li> <li><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFLandrethColander2002" class="citation cs2">Landreth, Harry; Colander, David C. (2002), <i>History of Economic Thought</i> (4th ed.), Boston: Houghton Mifflin, <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/978-0-618-13394-9" title="Special:BookSources/978-0-618-13394-9"><bdi>978-0-618-13394-9</bdi></a></cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=History+of+Economic+Thought&rft.place=Boston&rft.edition=4th&rft.pub=Houghton+Mifflin&rft.date=2002&rft.isbn=978-0-618-13394-9&rft.aulast=Landreth&rft.aufirst=Harry&rft.au=Colander%2C+David+C.&rfr_id=info%3Asid%2Fen.wikipedia.org%3AMercantilism" class="Z3988"></span></li> <li><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFLetwin2003" class="citation cs2">Letwin, William (2003) [1963], <i>The Origins of Scientific Economics: English Economic Thought 1660–1776</i>, London: Routledge, <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/978-0-415-31329-2" title="Special:BookSources/978-0-415-31329-2"><bdi>978-0-415-31329-2</bdi></a></cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=The+Origins+of+Scientific+Economics%3A+English+Economic+Thought+1660%E2%80%931776&rft.place=London&rft.pub=Routledge&rft.date=2003&rft.isbn=978-0-415-31329-2&rft.aulast=Letwin&rft.aufirst=William&rfr_id=info%3Asid%2Fen.wikipedia.org%3AMercantilism" class="Z3988"></span></li> <li><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFMagnusson2003" class="citation cs2">Magnusson, Lars G. (2003), "Mercantilism", in Samuels, Warren J.; Biddle, Jeff E.; Davis, Jon B. (eds.), <i>A Companion to the History of Economic Thought</i>, Malden, MA: <a href="/wiki/Blackwell_Publishing" class="mw-redirect" title="Blackwell Publishing">Blackwell Publishing</a>, <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/978-0-631-22573-7" title="Special:BookSources/978-0-631-22573-7"><bdi>978-0-631-22573-7</bdi></a></cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=bookitem&rft.atitle=Mercantilism&rft.btitle=A+Companion+to+the+History+of+Economic+Thought&rft.place=Malden%2C+MA&rft.pub=Blackwell+Publishing&rft.date=2003&rft.isbn=978-0-631-22573-7&rft.aulast=Magnusson&rft.aufirst=Lars+G.&rfr_id=info%3Asid%2Fen.wikipedia.org%3AMercantilism" class="Z3988"></span></li> <li><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFMarkwell2006" class="citation cs2"><a href="/wiki/Donald_Markwell" title="Donald Markwell">Markwell, Donald</a> (2006), <i>John Maynard Keynes and International Relations: Economic Paths to War and Peace</i>, Oxford & New York: Oxford University Press, <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/978-0-19-829236-4" title="Special:BookSources/978-0-19-829236-4"><bdi>978-0-19-829236-4</bdi></a></cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=John+Maynard+Keynes+and+International+Relations%3A+Economic+Paths+to+War+and+Peace&rft.place=Oxford+%26+New+York&rft.pub=Oxford+University+Press&rft.date=2006&rft.isbn=978-0-19-829236-4&rft.aulast=Markwell&rft.aufirst=Donald&rfr_id=info%3Asid%2Fen.wikipedia.org%3AMercantilism" class="Z3988"></span></li> <li><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFNester2000" class="citation cs2">Nester, R. (2000), <i>The Great Frontier War: Britain, France, and the Imperial Struggle for North America, 1607–1755</i>, Praeger, <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/978-0-275-96772-7" title="Special:BookSources/978-0-275-96772-7"><bdi>978-0-275-96772-7</bdi></a></cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=The+Great+Frontier+War%3A+Britain%2C+France%2C+and+the+Imperial+Struggle+for+North+America%2C+1607%E2%80%931755&rft.pub=Praeger&rft.date=2000&rft.isbn=978-0-275-96772-7&rft.aulast=Nester&rft.aufirst=R.&rfr_id=info%3Asid%2Fen.wikipedia.org%3AMercantilism" class="Z3988"></span></li> <li><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFNiehans1990" class="citation cs2">Niehans, Jürg (1990), <i>A History of Economic Theory: Classic Contributions, 1720–1980</i>, Baltimore, MD: Johns Hopkins University Press, <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/978-0-8018-3834-7" title="Special:BookSources/978-0-8018-3834-7"><bdi>978-0-8018-3834-7</bdi></a></cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=A+History+of+Economic+Theory%3A+Classic+Contributions%2C+1720%E2%80%931980&rft.place=Baltimore%2C+MD&rft.pub=Johns+Hopkins+University+Press&rft.date=1990&rft.isbn=978-0-8018-3834-7&rft.aulast=Niehans&rft.aufirst=J%C3%BCrg&rfr_id=info%3Asid%2Fen.wikipedia.org%3AMercantilism" class="Z3988"></span></li> <li><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFOmrund2003" class="citation cs2">Omrund, David (2003), <i>The rise of commercial empires: England and the Netherlands in the Age of Mercantilism, 1650–1770</i></cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=The+rise+of+commercial+empires%3A+England+and+the+Netherlands+in+the+Age+of+Mercantilism%2C+1650%E2%80%931770&rft.date=2003&rft.aulast=Omrund&rft.aufirst=David&rfr_id=info%3Asid%2Fen.wikipedia.org%3AMercantilism" class="Z3988"></span></li> <li>Rees, J. F. "Mercantilism" <i>History</i> 24#94 (1939), pp. 129–135 <a rel="nofollow" class="external text" href="https://www.jstor.org/stable/24401676">online</a>; historiography</li> <li><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFRothbard1997" class="citation cs2">Rothbard, Murray (1997), <a rel="nofollow" class="external text" href="https://mises.org/daily/4304"><i>Mercantilism: A Lesson for Our Times?</i></a>, Cheltenham, England: Edward Elgar</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=Mercantilism%3A+A+Lesson+for+Our+Times%3F&rft.place=Cheltenham%2C+England&rft.pub=Edward+Elgar&rft.date=1997&rft.aulast=Rothbard&rft.aufirst=Murray&rft_id=https%3A%2F%2Fmises.org%2Fdaily%2F4304&rfr_id=info%3Asid%2Fen.wikipedia.org%3AMercantilism" class="Z3988"></span></li> <li><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFSamuelson1964" class="citation cs2"><a href="/wiki/Paul_Samuelson" title="Paul Samuelson">Samuelson, Paul</a> (May 1964), "Theoretical notes on trade problems", <i>The Review of Economics and Statistics</i>, <b>46</b> (2): 145–154, <a href="/wiki/Doi_(identifier)" class="mw-redirect" title="Doi (identifier)">doi</a>:<a rel="nofollow" class="external text" href="https://doi.org/10.2307%2F1928178">10.2307/1928178</a>, <a href="/wiki/JSTOR_(identifier)" class="mw-redirect" title="JSTOR (identifier)">JSTOR</a> <a rel="nofollow" class="external text" href="https://www.jstor.org/stable/1928178">1928178</a>, <a href="/wiki/S2CID_(identifier)" class="mw-redirect" title="S2CID (identifier)">S2CID</a> <a rel="nofollow" class="external text" href="https://api.semanticscholar.org/CorpusID:154149792">154149792</a></cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=The+Review+of+Economics+and+Statistics&rft.atitle=Theoretical+notes+on+trade+problems&rft.volume=46&rft.issue=2&rft.pages=145-154&rft.date=1964-05&rft_id=https%3A%2F%2Fapi.semanticscholar.org%2FCorpusID%3A154149792%23id-name%3DS2CID&rft_id=https%3A%2F%2Fwww.jstor.org%2Fstable%2F1928178%23id-name%3DJSTOR&rft_id=info%3Adoi%2F10.2307%2F1928178&rft.aulast=Samuelson&rft.aufirst=Paul&rfr_id=info%3Asid%2Fen.wikipedia.org%3AMercantilism" class="Z3988"></span></li> <li><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFSamuelson2007" class="citation cs2"><a href="/wiki/Robert_J._Samuelson" title="Robert J. Samuelson">Samuelson, Robert J.</a> (17 May 2007), <a rel="nofollow" class="external text" href="http://www.newsweek.com/id/34952"><i>China's Wrong Turn on Trade</i></a>, <a href="/wiki/Newsweek" title="Newsweek">Newsweek</a><span class="reference-accessdate">, retrieved <span class="nowrap">2007-12-06</span></span></cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=China%27s+Wrong+Turn+on+Trade&rft.pub=Newsweek&rft.date=2007-05-17&rft.aulast=Samuelson&rft.aufirst=Robert+J.&rft_id=http%3A%2F%2Fwww.newsweek.com%2Fid%2F34952&rfr_id=info%3Asid%2Fen.wikipedia.org%3AMercantilism" class="Z3988"></span></li> <li><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFSmith2008" class="citation encyclopaedia cs1"><a href="/wiki/George_H._Smith" title="George H. Smith">Smith, George H.</a> (2008). <a rel="nofollow" class="external text" href="https://books.google.com/books?id=yxNgXs3TkJYC">"Mercantilism"</a>. In <a href="/wiki/Ronald_Hamowy" title="Ronald Hamowy">Hamowy, Ronald</a> (ed.). <i>The Encyclopedia of Libertarianism</i>. Thousand Oaks, CA: <a href="/wiki/SAGE_Publishing" class="mw-redirect" title="SAGE Publishing">Sage</a>; <a href="/wiki/Cato_Institute" title="Cato Institute">Cato Institute</a>. pp. 326–328. <a href="/wiki/Doi_(identifier)" class="mw-redirect" title="Doi (identifier)">doi</a>:<a rel="nofollow" class="external text" href="https://doi.org/10.4135%2F9781412965811.n198">10.4135/9781412965811.n198</a>. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/978-1-4129-6580-4" title="Special:BookSources/978-1-4129-6580-4"><bdi>978-1-4129-6580-4</bdi></a>. <a href="/wiki/OCLC_(identifier)" class="mw-redirect" title="OCLC (identifier)">OCLC</a> <a rel="nofollow" class="external text" href="https://search.worldcat.org/oclc/750831024">750831024</a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=bookitem&rft.atitle=Mercantilism&rft.btitle=The+Encyclopedia+of+Libertarianism&rft.place=Thousand+Oaks%2C+CA&rft.pages=326-328&rft.pub=Sage%3B+Cato+Institute&rft.date=2008&rft_id=info%3Aoclcnum%2F750831024&rft_id=info%3Adoi%2F10.4135%2F9781412965811.n198&rft.isbn=978-1-4129-6580-4&rft.aulast=Smith&rft.aufirst=George+H.&rft_id=https%3A%2F%2Fbooks.google.com%2Fbooks%3Fid%3DyxNgXs3TkJYC&rfr_id=info%3Asid%2Fen.wikipedia.org%3AMercantilism" class="Z3988"></span></li> <li><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFSpiegel1991" class="citation cs2">Spiegel, Henry William (1991), <i>The growth of economic thought</i> (3rd ed.), Duke University Press, <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/978-0-8223-0973-4" title="Special:BookSources/978-0-8223-0973-4"><bdi>978-0-8223-0973-4</bdi></a></cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=The+growth+of+economic+thought&rft.edition=3rd&rft.pub=Duke+University+Press&rft.date=1991&rft.isbn=978-0-8223-0973-4&rft.aulast=Spiegel&rft.aufirst=Henry+William&rfr_id=info%3Asid%2Fen.wikipedia.org%3AMercantilism" class="Z3988"></span></li> <li><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFVaggiGroenewegen2003" class="citation cs2">Vaggi, Gianni; Groenewegen, Peter (2003), <i>A Concise History of Economic Thought: From Mercantilism to Monetarism</i>, New York: Palgrave Macmillan, <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/978-0-333-99936-3" title="Special:BookSources/978-0-333-99936-3"><bdi>978-0-333-99936-3</bdi></a></cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=A+Concise+History+of+Economic+Thought%3A+From+Mercantilism+to+Monetarism&rft.place=New+York&rft.pub=Palgrave+Macmillan&rft.date=2003&rft.isbn=978-0-333-99936-3&rft.aulast=Vaggi&rft.aufirst=Gianni&rft.au=Groenewegen%2C+Peter&rfr_id=info%3Asid%2Fen.wikipedia.org%3AMercantilism" class="Z3988"></span></li> <li><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFWaltersBlake1976" class="citation cs2">Walters, Robert S.; Blake, David H. (1976), <i>The Politics of Global Economic Relations</i>, Englewood Cliffs, NJ: Prentice-Hall, <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/978-0-13-684712-0" title="Special:BookSources/978-0-13-684712-0"><bdi>978-0-13-684712-0</bdi></a></cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=The+Politics+of+Global+Economic+Relations&rft.place=Englewood+Cliffs%2C+NJ&rft.pub=Prentice-Hall&rft.date=1976&rft.isbn=978-0-13-684712-0&rft.aulast=Walters&rft.aufirst=Robert+S.&rft.au=Blake%2C+David+H.&rfr_id=info%3Asid%2Fen.wikipedia.org%3AMercantilism" class="Z3988"></span></li> <li><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFWilliams1999" class="citation cs2">Williams, E. N. (1999), <i>The Ancién Regime in Europe: government and society in the major states 1648–1789</i>, London: Pimlico, <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/978-0-7126-5934-5" title="Special:BookSources/978-0-7126-5934-5"><bdi>978-0-7126-5934-5</bdi></a></cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=The+Anci%C3%A9n+Regime+in+Europe%3A+government+and+society+in+the+major+states+1648%E2%80%931789&rft.place=London&rft.pub=Pimlico&rft.date=1999&rft.isbn=978-0-7126-5934-5&rft.aulast=Williams&rft.aufirst=E.+N.&rfr_id=info%3Asid%2Fen.wikipedia.org%3AMercantilism" class="Z3988"></span></li> <li><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFWilson1963" class="citation cs2">Wilson, Charles (1963) [1958], <i>Mercantilism</i>, London: Routledge and Kegan Paul</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=Mercantilism&rft.place=London&rft.pub=Routledge+and+Kegan+Paul&rft.date=1963&rft.aulast=Wilson&rft.aufirst=Charles&rfr_id=info%3Asid%2Fen.wikipedia.org%3AMercantilism" class="Z3988"></span><sup class="noprint Inline-Template" style="white-space:nowrap;">[<i><a href="/wiki/Wikipedia:Citing_sources" title="Wikipedia:Citing sources"><span title="Please supply an ISBN for this book.">ISBN missing</span></a></i>]</sup></li></ul> <div class="mw-heading mw-heading2"><h2 id="External_links">External links</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Mercantilism&action=edit&section=16" title="Edit section: External links"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <style data-mw-deduplicate="TemplateStyles:r1235681985">.mw-parser-output .side-box{margin:4px 0;box-sizing:border-box;border:1px solid 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text of the <a href="/wiki/Encyclop%C3%A6dia_Britannica_Eleventh_Edition" title="Encyclopædia Britannica Eleventh Edition">1911 <i>Encyclopædia Britannica</i></a> article "<span style="font-weight:bold;"><a href="https://en.wikisource.org/wiki/1911_Encyclop%C3%A6dia_Britannica/Mercantile_System" class="extiw" title="wikisource:1911 Encyclopædia Britannica/Mercantile System">Mercantile System</a></span>".</div></div> </div> <ul><li><a rel="nofollow" class="external text" href="http://www.ecn.bris.ac.uk/het/mun/treasure.txt">Thomas Mun's <i>Englands Treasure by Forraign Trade</i></a> <a rel="nofollow" class="external text" href="https://web.archive.org/web/20061023153356/http://www.ecn.bris.ac.uk/het/mun/treasure.txt">Archived</a> 2006-10-23 at the <a href="/wiki/Wayback_Machine" title="Wayback Machine">Wayback Machine</a></li></ul> <ul><li><style data-mw-deduplicate="TemplateStyles:r1041539562">.mw-parser-output .citation{word-wrap:break-word}.mw-parser-output .citation:target{background-color:rgba(0,127,255,0.133)}</style><span class="citation gutenberg"> <i><a rel="nofollow" class="external text" href="https://gutenberg.org/ebooks/38194">An Inquiry Into the Nature and Causes of the Wealth of Nations</a></i> at <a href="/wiki/Project_Gutenberg" title="Project Gutenberg">Project Gutenberg</a></span>: Adam Smith's <i>Wealth of Nations</i></li></ul> <div class="navbox-styles"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><style data-mw-deduplicate="TemplateStyles:r1236075235">.mw-parser-output .navbox{box-sizing:border-box;border:1px solid #a2a9b1;width:100%;clear:both;font-size:88%;text-align:center;padding:1px;margin:1em auto 0}.mw-parser-output .navbox .navbox{margin-top:0}.mw-parser-output .navbox+.navbox,.mw-parser-output .navbox+.navbox-styles+.navbox{margin-top:-1px}.mw-parser-output .navbox-inner,.mw-parser-output .navbox-subgroup{width:100%}.mw-parser-output .navbox-group,.mw-parser-output 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Serra</a></li> <li><a href="/wiki/Gerard_de_Malynes" title="Gerard de Malynes">Gerard de Malynes</a></li> <li><a href="/wiki/Edward_Misselden" title="Edward Misselden">Edward Misselden</a></li> <li><a href="/wiki/Thomas_Mun" title="Thomas Mun">Thomas Mun</a></li> <li><a href="/wiki/Jean_Bodin" title="Jean Bodin">Jean Bodin</a></li> <li><a href="/wiki/Jean-Baptiste_Colbert" title="Jean-Baptiste Colbert">Jean-Baptiste Colbert</a></li> <li><a href="/wiki/Josiah_Child" title="Josiah Child">Josiah Child</a></li> <li><a href="/wiki/William_Petty" title="William Petty">William Petty</a></li> <li><a href="/wiki/Charles_Davenant" title="Charles Davenant">Charles Davenant</a></li> <li><a href="/wiki/Ferdinando_Galiani" title="Ferdinando Galiani">Ferdinando Galiani</a></li> <li><a href="/wiki/James_Denham-Steuart" class="mw-redirect" title="James Denham-Steuart">James Denham-Steuart</a></li> <li><a href="/wiki/Philipp_von_H%C3%B6rnigk" title="Philipp von Hörnigk">Philipp Wilhelm von 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href="/wiki/Scholasticism" title="Scholasticism">Scholasticism</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Modern era</th><td class="navbox-list-with-group navbox-list navbox-odd hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"></div><table class="nowraplinks navbox-subgroup" style="border-spacing:0"><tbody><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Early_modern_philosophy" title="Early modern philosophy">Early modern</a></th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Cameralism" title="Cameralism">Cameralism</a></li> <li><a class="mw-selflink selflink">Mercantilism</a></li> <li><a href="/wiki/Physiocracy" title="Physiocracy">Physiocrats</a></li> <li><a href="/wiki/School_of_Salamanca" title="School of Salamanca">School of Salamanca</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Late_modern_philosophy" class="mw-redirect" title="Late modern philosophy">Late modern</a></th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/American_School_(economics)" title="American School (economics)">American (National)</a></li> <li><a href="/wiki/Austrian_School" class="mw-redirect" title="Austrian School">Austrian</a></li> <li><a href="/wiki/Birmingham_School_(economics)" class="mw-redirect" title="Birmingham School (economics)">Birmingham</a></li> <li><a href="/wiki/Classical_economics" title="Classical economics">Classical</a> <ul><li><a href="/wiki/Ricardian_economics" title="Ricardian economics">Ricardian</a></li></ul></li> <li><a href="/wiki/Distributism" title="Distributism">Distributist</a></li> <li><a href="/wiki/English_historical_school_of_economics" title="English historical school of economics">English historical</a></li> <li><a href="/wiki/French_liberal_school" title="French liberal school">French liberal</a></li> <li><a href="/wiki/Georgism" title="Georgism">Georgism</a></li> <li><a href="/wiki/Historical_school_of_economics" title="Historical school of economics">German historical</a></li> <li><a href="/wiki/Malthusianism" title="Malthusianism">Malthusian</a></li> <li><a href="/wiki/Manchester_Liberalism" title="Manchester Liberalism">Manchester</a></li> <li><a href="/wiki/Marginalism" title="Marginalism">Marginalism</a></li> <li><a href="/wiki/Marxian_economics" title="Marxian economics">Marxist economics</a></li> <li><a href="/wiki/Critique_of_political_economy" title="Critique of political economy">Marxian critique of political economy</a></li> <li><a href="/wiki/Mutualism_(economic_theory)" title="Mutualism (economic theory)">Mutualism</a></li> <li><a href="/wiki/Neoclassical_economics" title="Neoclassical economics">Neoclassical</a> <ul><li><a href="/wiki/Lausanne_School" title="Lausanne School">Lausanne</a></li></ul></li> <li><a href="/wiki/Socialist_economics" title="Socialist economics">Socialist</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Contemporary<br />(20th and<br />21st centuries)</th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Behavioral_economics" title="Behavioral economics">Behavioral</a></li> <li><a href="/wiki/Buddhist_economics" title="Buddhist economics">Buddhist</a></li> <li><a href="/wiki/Capability_approach" title="Capability approach">Capability approach</a></li> <li><a href="/wiki/Carnegie_School" title="Carnegie School">Carnegie</a></li> <li><a href="/wiki/Chartalism" title="Chartalism">Chartalism</a> <ul><li><a href="/wiki/Modern_Monetary_Theory" class="mw-redirect" title="Modern Monetary Theory">Modern Monetary Theory</a></li></ul></li> <li><a href="/wiki/Chicago_school_of_economics" title="Chicago school of economics">Chicago</a></li> <li><a href="/wiki/Constitutional_economics" title="Constitutional economics">Constitutional</a></li> <li><a href="/wiki/Krak%C3%B3w_School_of_Economics" title="Kraków School of Economics">Cracovian</a></li> <li><a href="/wiki/Disequilibrium_macroeconomics" title="Disequilibrium macroeconomics">Disequilibrium</a></li> <li><a href="/wiki/Ecological_economics" title="Ecological economics">Ecological</a></li> <li><a href="/wiki/Evolutionary_economics" title="Evolutionary economics">Evolutionary</a></li> <li><a href="/wiki/Feminist_economics" title="Feminist economics">Feminist</a></li> <li><a href="/wiki/Freiburg_school" title="Freiburg school">Freiburg</a></li> <li><a href="/wiki/Institutional_economics" title="Institutional economics">Institutional</a></li> <li><a href="/wiki/Keynesian_economics" title="Keynesian economics">Keynesian</a> <ul><li><a href="/wiki/Neo-Keynesian_economics" class="mw-redirect" title="Neo-Keynesian economics">Neo-</a> <ul><li><a href="/wiki/Neoclassical_synthesis" title="Neoclassical synthesis">Neoclassical–Keynesian synthesis</a></li></ul></li> <li><a href="/wiki/New_Keynesian_economics" title="New Keynesian economics">New</a></li> <li><a href="/wiki/Post-Keynesian_economics" title="Post-Keynesian economics">Post-</a> <ul><li><a href="/wiki/Monetary_circuit_theory" title="Monetary circuit theory">Circuitism</a></li> <li><a href="/wiki/Marxism_and_Keynesianism#Heterodoxy_and_Keynes–Marx_synthesis" class="mw-redirect" title="Marxism and Keynesianism">Keynes–Marx synthesis</a></li></ul></li></ul></li> <li><a href="/wiki/Monetarism" title="Monetarism">Monetarism</a> <ul><li><a href="/wiki/Market_monetarism" title="Market monetarism">Market</a></li></ul></li> <li><a href="/wiki/Neo-Malthusianism" class="mw-redirect" title="Neo-Malthusianism">Neo-Malthusian</a></li> <li><a href="/wiki/Neo-Marxian_economics" class="mw-redirect" title="Neo-Marxian economics">Neo-Marxian</a></li> <li><a href="/wiki/Neo-Ricardianism" title="Neo-Ricardianism">Neo-Ricardian</a></li> <li><a href="/wiki/Neo-Schumpeterian_economics" title="Neo-Schumpeterian economics">Neo-Schumpeterian</a></li> <li><a href="/wiki/Neoliberalism" title="Neoliberalism">Neoliberalism</a></li> <li><a href="/wiki/New_classical_macroeconomics" title="New classical macroeconomics">New classical</a> <ul><li><a href="/wiki/Rational_expectations" title="Rational expectations">Rational expectations theory</a></li> <li><a href="/wiki/Real_business-cycle_theory" title="Real business-cycle theory">Real business-cycle theory</a></li></ul></li> <li><a href="/wiki/New_institutional_economics" title="New institutional economics">New institutional</a></li> <li><a href="/wiki/New_neoclassical_synthesis" title="New neoclassical synthesis">New neoclassical synthesis</a></li> <li><a href="/wiki/Organizational_economics" title="Organizational economics">Organizational</a></li> <li><a href="/wiki/Public_choice" title="Public choice">Public choice</a></li> <li><a href="/wiki/Regulation_school" title="Regulation school">Regulation</a></li> <li><a href="/wiki/Saltwater_and_freshwater_economics" title="Saltwater and freshwater economics">Saltwater/freshwater</a></li> <li><a href="/wiki/Stockholm_school_(economics)" class="mw-redirect" title="Stockholm school (economics)">Stockholm</a></li> <li><a href="/wiki/Structuralist_economics" title="Structuralist economics">Structuralist</a></li> <li><a href="/wiki/Supply-side_economics" title="Supply-side economics">Supply-side</a></li> <li><a href="/wiki/Technocracy_movement" title="Technocracy movement">Technocracy movement</a></li> <li><a href="/wiki/Thermoeconomics" title="Thermoeconomics">Thermoeconomics</a></li> <li><a href="/wiki/Virginia_school_of_political_economy" title="Virginia school of political economy">Virginia</a></li> <li><a href="/wiki/Social_credit" title="Social credit">Social credit</a></li></ul> </div></td></tr></tbody></table><div></div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Related</th><td class="navbox-list-with-group navbox-list navbox-odd hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Critique_of_political_economy" title="Critique of political economy">Critique of political economy</a></li> <li><a href="/wiki/History_of_economic_thought" title="History of economic thought">History of economic thought</a></li> <li><a href="/wiki/History_of_macroeconomic_thought" title="History of macroeconomic thought">History of macroeconomic thought</a></li> <li><a href="/wiki/Economics" title="Economics">Economics</a></li> <li><a href="/wiki/Political_economy" title="Political economy">Political economy</a></li> <li><a href="/wiki/Mainstream_economics" title="Mainstream economics">Mainstream economics</a></li> <li><a href="/wiki/Heterodox_economics" title="Heterodox economics">Heterodox economics</a></li> <li><a href="/wiki/Post-autistic_economics" title="Post-autistic economics">Post-autistic economics</a></li> <li><a href="/wiki/Degrowth" title="Degrowth">Degrowth</a></li> <li><a href="/wiki/World-systems_theory" title="World-systems theory">World-systems theory</a></li> <li><a href="/wiki/Economic_system" title="Economic system">Economic systems</a></li></ul> </div></td></tr></tbody></table></div> <div class="navbox-styles"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236075235"><style data-mw-deduplicate="TemplateStyles:r1038841319">.mw-parser-output .tooltip-dotted{border-bottom:1px dotted;cursor:help}</style><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1038841319"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1038841319"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1038841319"><link 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href="https://d-nb.info/gnd/4038722-7">Germany</a></span></li><li><span class="uid"><span class="rt-commentedText tooltip tooltip-dotted" title="Mercantile system"><a rel="nofollow" class="external text" href="https://id.loc.gov/authorities/sh85083742">United States</a></span></span></li><li><span class="uid"><span class="rt-commentedText tooltip tooltip-dotted" title="Mercantilisme"><a rel="nofollow" class="external text" href="https://catalogue.bnf.fr/ark:/12148/cb119620237">France</a></span></span></li><li><span class="uid"><span class="rt-commentedText tooltip tooltip-dotted" title="Mercantilisme"><a rel="nofollow" class="external text" href="https://data.bnf.fr/ark:/12148/cb119620237">BnF data</a></span></span></li><li><span class="uid"><span class="rt-commentedText tooltip tooltip-dotted" title="重商主義"><a rel="nofollow" class="external text" href="https://id.ndl.go.jp/auth/ndlna/00575145">Japan</a></span></span></li><li><span class="uid"><span class="rt-commentedText tooltip 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