MERCANTILISM

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MERCANTILISM
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Paraphrase Preview Challenge

• American Heritage Dictionary
• The theory and system of political economy
  prevailing in Europe after the decline of
  feudalism, based on national policies of
  accumulating bullion, establishing colonies and a
  merchant marine, and developing industry and
  mining to attain a favorable balance of trade.

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Paraphrase Processing Challenge

• Mercantilism is

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According to mercantilism

• There is a limited amount of wealth in the world.

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Every nation wants to keep its share or even earn
more.

• A nation does this by maintaining a favorable
  balance of trade, with exports equaling or
  surpassing imports.

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Preferably,
IMPORTS
EXPORTS
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Colonies have major role in mercantilism.

• A colony provides raw materials to the mother
  country to be manufactured into some consumer
  products.

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• Then, colonists buy the finished products,
  creating a market and creating profits for the
  mother country.

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(No Transcript)
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Colonial Raw Materials

• Lumber
• Naval stores
• Cotton
• Tobacco
• Indigo
• Wool
• Sugar

• Furs
• Dried fish
• Rice
• Leather
• Whale products
• Ores
• Flax

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Colonial Imports

• Furniture
• Hats
• Cloth
• Pots, pans
• China and porcelain
• Paint
• Tea
• Shoes

• Glass
• Paper
• Tools
• Utensils
• Slaves

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Triangular Trade Routes Develop
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Mercantilism Enforcement

• How does the mother country enforce mercantilism?
• Laws
• Tariffs
• Navy

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Who Benefits?