Mercantilists believe that economics should be subsidiary to the emergence of strong states, with political elites spearheading the establishment of modern states3. Mercantilism included the national economic policy aimed at accumulating monetary reserves on a positive balance of trade, mostly of finished goods1. Such policies historical motivated the colonial expansion and even caused war. Mercantilist policies ranged from growth and expansion of the good working environments between the government and the nation-state and the classes (mercantile). The policy was geared towards the achievement of a favorable trade balance which would lead to the existence of gold and silver in Continue reading...
