MERCANTILISM

A SYSTEM TIED TO EARLY MODERN EUROPEAN STATE

THE STATE IN CONTEXT

THE STATE…IN THE PROCESS OF FORMATION WAS NOT THE NATIONAL STATE OF TODAY, WITH ITS FREEDOM OF TRADE UNDER PROTECTIVE CONDITIONS…THE STATE OF THE 17^TH CENTURY WAS, IN A SENSE, AN INLARGED MUNICIPALITY, SELF SUFFICING AND EXCLUSIVE, PROTECTING ITSELF FROM THE OUTER WORLD, CONSERVING ALL ITS RESOURCES FOR ITS OWN ADVANTAGE, AND JEALOUS OF OTHER STATES.

MERCANTILISM

17^TH CENTURY STATE AND MERCANTILISM

INFLUENCE ON TRADE POLICY OF POWERFUL INDIVIDUALS GREAT

ENGLAND’S “COMMERCIAL POLICY”

SLOW IN MAKING

NEVER EXACT OR EXACTLY DEFINED

UNDERSTOOD ONLY BY STUDY OF IT IN ACTION OVER 150 YEARS

RELATION TO COLONIES IN AMERCA

NEVER EXACT OR UNIFORM

EXCEPT IN FEW FUNDAMENTALS

MERCANTILISM

ENGLISH “COMMERCIAL POLICY”

MODUS OPERENDI FOR PURPOSE OF MEETING NEEDS OF EXPANDING STATE

FOLLOWED RATHER THAN DIRECTED COMMERCIAL ENTERPRIZE

CHANGED TO MEET STATE’S GROWING STATUS/POWER

NOT A THEORY A CONDITION