Mercantilism And The East India Trade
2009 Reprint of the 1926. Mercantilism was the dominant school of thought throughout the early modern period (from the 16th to the 18th century). Domestically, the doctrine led to some of the first instances of significant government intervention and control over the economy, and it was during this period that much of the modern capitalist system was established. Internationally, mercantilism encouraged the many European wars of the period and fueled European imperialism. Academic belief in...
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2009 Reprint of the 1926. Mercantilism was the dominant school of thought throughout the early modern period (from the 16th to the 18th century). Domestically, the doctrine led to some of the first instances of significant government intervention and control over the economy, and it was during this period that much of the modern capitalist system was established. Internationally, mercantilism encouraged the many European wars of the period and fueled European imperialism. Academic belief in mercantilism began to fade in the late 18th century, as the arguments of Adam Smith and the other classical economists won out. Today, mercantilism as a whole is rejected by economists, though some elements are looked upon favorably by non-economists. In this seminal work Thomas argues that mercantilism was mainly a system of economic policy whose intention was the strengthening of the state in material terms and as such was the economic side of nationalism.
