Modern History Part 5

Modern History Part 5 - M odern History Part 5 Age of...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
Modern History Part 5 Age of Mercantilism- Mercantilistic Wars Mercantilism- is an economic vision of how the international economy works. It’s based on the notion that there is a finite amount of wealth out in the world. The inly way to get more is to take wealth from, other states. Zero-Sum Game- a game in which the sum always ends up as zero. Mercantilist- believes that there is an economic battle between states. It is not a company/ individual in England going against a company in like Russia. It is state against state. Favorable balance of trade- exporting more than importing. Last day XD. If you have an unfavorable balance, you can pay the other country in their currency or in gold/silver. Maximize exports, minimize imports, capture markets/ raw materials, keep away competitors, and collect bullion. Global economic competition. These wars are not just fought in Europe. They are world wars fought in Africa, Caribbean, America, and Mediterranean…
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 08/30/2011 for the course HIST 2002 taught by Professor Staff during the Spring '11 term at LSU.

Page1 / 3

Modern History Part 5 - M odern History Part 5 Age of...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online