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Pillage the Lands Mercantilism
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Essentially the history of international trade. Mercantilists did whatever it took to increase their trade surplus, setting up a system of trade to take from their neighbors to make themselves (the king and queen) richer.
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Mercantilism Mercantilism
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Used high import barriers and high export subsidies to effectively create a monopoly within their borders since everyone had to buy their goods; keeps the people poor and the rulers rich. People argue it is our future to take advantage of the little people through a monopoly on violence.
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Neomercantilism Mercantilism
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Increased national wealth but decreased consumer satisfaction; system to make the rich richer through exports and subsidies The more recent strategy of countries that use protectionist trade policies in an attempt to run favorable balances of trade and/or accomplish particular social or political
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objectives.
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Neomercantilism Mercantilism
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Fell apart in 1776 with Adam Smith’s criticism and moved away from it during the industrial revolution, but only in name; still using its policies without calling it that. In democracies, politicians can favor majority subgroups to get votes; since they don’t stay in office forever, they keep them happy to make important friends for later (more direct with
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dictators).
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Comparative Advantage Absolute Advantage
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specialize in production in something they are particularly good at;
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This note was uploaded on 09/08/2011 for the course GEB 3375H taught by Professor Robertsweo during the Spring '11 term at University of Central Florida.

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