Mecantilism

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• Mecantilism

• Cadet Lawrence

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This is a painting of a French seaport from 1638
at the height of mercantilism.

• Between 1600 and 1800 most of the states of
  western Europe were heavily influenced by a
  policy usually known as mercantilism. This was
  essentially an effort to achieve economic unity
  and political control. No general definition of
  mercantilism is entirely satisfactory, but it may
  be thought of as a collection of policies
  designed to keep the state prosperous by economic
  regulation.

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Mercantilism - is the economic theory that a
nation's prosperity depends upon its supply of
capital and that the global volume of trade is
unchangeable. The amount of capital, represented
by bullion (amount of precious metal held by the
state), is best increased through a favorable
balance of trade with large exports and low
imports.
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Mercantilism helped create trade patterns
such as the triangular trade in the North
Atlantic, in which raw materials were imported to
the metropolis and then processed and
redistributed to other colonies.

• Mercantilism suggests that the government should
  advance these goals by playing an active,
  protectionist role in the economy by encouraging
  exports and discouraging imports, especially
  through the use of tariffs. The economic policy
  based on these ideas is often called the
  mercantile system.

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• Marquis De Mirabeau

Almost all the European economists who wrote
between 1500 and 1750 are today generally
considered mercantilists however, these writers
did not see themselves as contributing to a
single economic ideology. The term was coined by
the Marquis de Mirabeau in 1763, and was
popularized by Adam Smith in 1776.
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• Adam Smith

• Baptised June 5, 1723 July 17, 1790 was a
  Scottish political economist and moral
  philosopher. His Inquiry into the Nature and
  Causes of the Wealth of Nations was one of the
  earliest attempts to study the historical
  development of industry and commerce in Europe.
  That work helped to create the modern academic
  discipline of economics and provided one of the
  best-known intellectual rationales for free trade
  and capitalism.

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• THE END

• Cadet Lawrence