assignment 2 - technology and also due to the “mother...

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Kyle Schuppan History of economic thought Assignment 2 April 13 th , 2011 When approaching this from a Mercantilist Policy point of view you would be pleased with the first half of the time line, but disappointed with the second half. Its easy to see that with the first half of the data the British were trying to sell more (Export) than it bought (Import). This was done in order to acquire and keep more bullion. Britain’s power over other countries in regards to bullion, for the first half of the data, is massive. However as we look to the second part of the data we see buying (Import) tends to surpass buying (Export). This also shows how with Mercantilist Policy the “mother countries” or large countries really dictate and have control over the smaller countries. This was due mainly to lack of
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Unformatted text preview: technology and also due to the “mother countries” called the shots and the smaller countries followed suit due to fear of war or death. Also Mercantilist Policy is more involved with a geo-political aspect. When approaching this from a Mercantilist Doctrine point of view, you would be pleased with the second half of the data. Mercantilist Doctrine is interested in more of full employment of a society. We see with the data that the first half of the data, there are barley any exports and imports happening. The employment rate was fairly low at this point. The second half of the data where the exports and imports skyrocket are mainly due to the industrial revolution, which also helped employ people....
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This note was uploaded on 04/25/2011 for the course MARKETING 300 taught by Professor Romyerong during the Spring '11 term at Saint Louis.

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