9min chapter

In Our Time cover image

Mercantilism

In Our Time

CHAPTER

Bullionism to Mercantilism: Economic Perspectives

This chapter examines bullionism, the era's belief that wealth is solely based on gold and silver reserves, and contrasts it with the emergence of mercantilism as a dominant economic theory. It highlights the historical implications of these ideas, particularly their effects on royal power, military financing, and colonial expansion. The discussion also traces the evolution of economic thought through the critique of Adam Smith, illustrating the transition towards modern economic theories and practices.

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