Mercantilism

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Title: Mercantilism

Essay Details:

Subject: American History

Author:

Date: December 3, 2015

Level: University

Grade: B

Length: 2 / 355

Essay text:

But in fact, Mercantilists misunderstood the concept of mercantalism, arguing that an increase in the money supply meant that everyone gets richer, when actually only the parent country gets rich. Adam Smith, the "Father of Modern Economics", had something to say about mercantilism: "To prohibit a great people, however, for making all that they can of every part of their own produce, or from employing their stock and industry in the way that they judge most advantageous to themsleves, is a manifest violation of the most sacred rights of mankind" (The American Pageant, 120). The first people to reject mercantilism were the Physiocrats of France...

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