This presentation summarizes the economic theory of mercantilism. It introduces the topic and presenters, then defines mercantilism as an early theory of international trade that believed a nation's wealth depended on accumulating gold and silver and having a positive trade balance. It discusses key mercantilist policies like tariffs and export subsidies. It provides an example of China using modern mercantilist policies and summarizes Adam Smith's criticisms of how mercantilism viewed trade as zero-sum and emphasized money over other forms of wealth. The presentation concludes by noting how mercantilist policies were gradually replaced by free trade in Britain and France in the 18th-19th centuries.
Final Class Presentation on Introduction to class and International Economics...GeorgeKabongah2
What is Economics
What is international economics about?
Important issues in international trade.
History and present state of world trade flows
History of the development of trade theory
The Ricardian model of trade
Empirical evidence and policy results
WTO & Trade Issues - International Trade Environment.pptxDiksha Vashisht
To better understand how modern global trade has evolved, it’s important to understand how countries traded with one another historically. Over time, economists have developed theories to explain the mechanisms of global trade.
The main historical theories are called classical and are from the perspective of a country, or country-based.
Final Class Presentation on Introduction to class and International Economics...GeorgeKabongah2
What is Economics
What is international economics about?
Important issues in international trade.
History and present state of world trade flows
History of the development of trade theory
The Ricardian model of trade
Empirical evidence and policy results
WTO & Trade Issues - International Trade Environment.pptxDiksha Vashisht
To better understand how modern global trade has evolved, it’s important to understand how countries traded with one another historically. Over time, economists have developed theories to explain the mechanisms of global trade.
The main historical theories are called classical and are from the perspective of a country, or country-based.
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RMD24 | Debunking the non-endemic revenue myth Marvin Vacquier Droop | First ...BBPMedia1
Marvin neemt je in deze presentatie mee in de voordelen van non-endemic advertising op retail media netwerken. Hij brengt ook de uitdagingen in beeld die de markt op dit moment heeft op het gebied van retail media voor niet-leveranciers.
Retail media wordt gezien als het nieuwe advertising-medium en ook mediabureaus richten massaal retail media-afdelingen op. Merken die niet in de betreffende winkel liggen staan ook nog niet in de rij om op de retail media netwerken te adverteren. Marvin belicht de uitdagingen die er zijn om echt aansluiting te vinden op die markt van non-endemic advertising.
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Memorandum Of Association Constitution of Company.pptseri bangash
www.seribangash.com
A Memorandum of Association (MOA) is a legal document that outlines the fundamental principles and objectives upon which a company operates. It serves as the company's charter or constitution and defines the scope of its activities. Here's a detailed note on the MOA:
Contents of Memorandum of Association:
Name Clause: This clause states the name of the company, which should end with words like "Limited" or "Ltd." for a public limited company and "Private Limited" or "Pvt. Ltd." for a private limited company.
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Registered Office Clause: It specifies the location where the company's registered office is situated. This office is where all official communications and notices are sent.
Objective Clause: This clause delineates the main objectives for which the company is formed. It's important to define these objectives clearly, as the company cannot undertake activities beyond those mentioned in this clause.
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Liability Clause: It outlines the extent of liability of the company's members. In the case of companies limited by shares, the liability of members is limited to the amount unpaid on their shares. For companies limited by guarantee, members' liability is limited to the amount they undertake to contribute if the company is wound up.
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Capital Clause: This clause specifies the authorized capital of the company, i.e., the maximum amount of share capital the company is authorized to issue. It also mentions the division of this capital into shares and their respective nominal value.
Association Clause: It simply states that the subscribers wish to form a company and agree to become members of it, in accordance with the terms of the MOA.
Importance of Memorandum of Association:
Legal Requirement: The MOA is a legal requirement for the formation of a company. It must be filed with the Registrar of Companies during the incorporation process.
Constitutional Document: It serves as the company's constitutional document, defining its scope, powers, and limitations.
Protection of Members: It protects the interests of the company's members by clearly defining the objectives and limiting their liability.
External Communication: It provides clarity to external parties, such as investors, creditors, and regulatory authorities, regarding the company's objectives and powers.
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Binding Authority: The company and its members are bound by the provisions of the MOA. Any action taken beyond its scope may be considered ultra vires (beyond the powers) of the company and therefore void.
Amendment of MOA:
While the MOA lays down the company's fundamental principles, it is not entirely immutable. It can be amended, but only under specific circumstances and in compliance with legal procedures. Amendments typically require shareholder
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[Note: This is a partial preview. To download this presentation, visit:
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Sustainability has become an increasingly critical topic as the world recognizes the need to protect our planet and its resources for future generations. Sustainability means meeting our current needs without compromising the ability of future generations to meet theirs. It involves long-term planning and consideration of the consequences of our actions. The goal is to create strategies that ensure the long-term viability of People, Planet, and Profit.
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LEARNING OBJECTIVES
1. Develop a comprehensive understanding of the fundamental principles and concepts that form the foundation of sustainability within corporate environments.
2. Explore the sustainability implementation model, focusing on effective measures and reporting strategies to track and communicate sustainability efforts.
3. Identify and define best practices and critical success factors essential for achieving sustainability goals within organizations.
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1. Introduction and Key Concepts of Sustainability
2. Principles and Practices of Sustainability
3. Measures and Reporting in Sustainability
4. Sustainability Implementation & Best Practices
To download the complete presentation, visit: https://www.oeconsulting.com.sg/training-presentations
RMD24 | Retail media: hoe zet je dit in als je geen AH of Unilever bent? Heid...BBPMedia1
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2. Prepared For
Mr. Md. Ruhul Amin
Assistant Professor
Department of Management
Bangladesh University of Business & Technology
3. Group Name- Pandemonium
Group Members:
Kaniz Fatima---ID-10111101121---Intake------23rd
Fariha Ahmad--ID-10111101092---Intake------23rd
Tarich Khalasi--ID-10112101111---Intake------24th
Program-BBA
Bangladesh University of Business & Technology
5. Mercantilism the first theory of international
trade, is an economic concept for the purpose
of building a wealthy and powerful state,
which believes that the wealth of a nation
could only be achieved through government
controls and regulation of trade, commerce
and economic activities. It involves wealth
accumulation, establishment of favorable
trade with other countries, and development
of internal resources in the manufacturing and
agriculture sectors. The economic policies
that pursued by the Mercantilists, such as
Governmental control of the use and
exchange of precious metals, which is often
referred to as Bullionism.
6. ADAM SMITH coined the term
“mercantile system” to describe the
system of political economy that sought
to enrich the country by restraining
imports and encouraging exports. This
system dominated Western European
economic thought and policies,
including Portugal, France, Spain, and
Great Britain from the sixteenth to the
late eighteenth centuries. Its use was
favored by writers such as Jean-
Baptiste Colbert, who at a time served
as the French Finance Minister.
7. The basic concepts of mercantilism in terms of trading are:
• This approach assumes the wealth of a nation depends primarily on
the possession of precious metals such as gold and silver.
• During 16th
to 18th
century, gold and silver were the currency of trade
between countries.
• By exporting goods, countries could earn and therefore maximize
the amount of gold and silver. Conversely, importing goods from
other countries resulted in an outflow of gold and silver to those
countries.
8. • The basic concept of mercantilism in terms of trading is to make
sure that the country’s own resources are exported to other
countries in higher volumes or amounts compared to the goods
imported, which are kept to a minimum level. Trading is said to be
“balanced” if a country exports more than it imports. Through this
system, resources will increase and there will be a surplus on gold
and silver reserves.
• In the words of the English mercantilist writer Thomas Mun, “The
ordinary means therefore to increase our wealth and treasure is by
foreign trade, wherein we must ever observe this rule” to sell more
to strangers yearly than we consume of theirs in value”.
• This theory suggests that the government should play an active role
in the economy by encouraging exports and discouraging imports,
especially through the use of tariffs.
9. Features of a Mercantilist Economy:
1) Import prohibition of certain goods using imposition of high tariffs,
government legislation or very high taxes/import duties.
2) A wide range of government subsidies on export industries to
promote the country’s export-based policy.
3) Policies of nationalism.
4) Accumulation of assets in gold and silver, and prohibition of
private accumulation, use or export of these items.
5) One-way trade with colonies, and importation of gold and raw
materials from these sources.
10. Mercantilist policies have included:
• High tariffs, especially on manufactured goods;
• Exclusive trade with colonies;
• Forbidding trade to be carried in foreign ships;
• Export subsidies;
• Banning all export of gold and silver;
• Promoting manufacturing with research or direct subsidies;
• Limiting wages;
• Maximizing the use of domestic resources.
12. Assumpition:
Three Assumptions of Mercantilism:
1) There is a finite amount of wealth in the world.
2) A nation can only grow rich at the expense of other nations.
3) Therefore, a nation should try to achieve and maintain a favorable
trade balance, exporting more than it imports.
The Use of Colonies to Achieve a Favorable Trade Balance:
1) The economy of the colonies is always secondary to the economy of
the mother country.
13. 2) The colonies should provide cheap raw materials to the mother
country and market the manufactured goods of the mother country.
3) In return, the mother country provides military security and political
administration to the colonies.
4) The overriding goal is national monopoly, meaning that a nation’s
colonies should be restricted to trading only with each other or with
the mother country.
14. The Austrian lawyer and scholar Philipp Wilhelm von Hornick, in his
Austria Over All, If She Only Will of 1684, detailed a nine-point
program of what he deemed effective national economy, which
sums up the tenets of mercantilism comprehensively:
• That every inch of a country's soil be utilized for agriculture, mining
or manufacturing.
• All raw materials found in a country should be used in domestic
manufacture, since finished goods have a higher value than raw
materials.
• A large, working population should be encouraged.
• All export of gold and silver should be prohibited and all domestic
money be kept in circulation.
15. • That all imports of foreign goods should be discouraged as much as
possible.
• Where certain imports are indispensable they should be obtained at
first hand, in exchange for other domestic goods instead of gold and
silver.
• As much as possible, imports should be confined to raw materials
that can be finished [in the home country].
• Those opportunities should be constantly sought for selling a
country's surplus manufactures to foreigners, so far as necessary,
for gold and silver.
• That no importation should be allowed if such goods are sufficiently
and suitably supplied at home.
17. Example of Mercantilism:
Mercantilist doctrine is by no means dead; Neo-Mercantilists equate
political power with economic power with a balance of trade surplus.
Critics argue that many nations have adopted a neo-mercantilist
approach to boost exports and minimize or limit imports. For
example, China has recently been criticized for using the
mercantilist system, deliberately keeping its currency value low
against the U.S. dollar in order to sell more goods to the U.S. China
for many years has been successful at distributing their goods and
services to other countries, and severely limiting the imports they
take in return. This has allowed China to amass considerable wealth
in foreign currencies. Economists point out, that like European
countries who eventually had to abandon mercantilism, China may
be at that point as well, if they want to continue to develop their
wealth.
18. Criticism:
Adam Smith and David Hume were the founding fathers of anti-
mercantilist thought; This practice was strongly attacked by Adam
Smith in his 1776 work “The Wealth of Nations”. The criticisms of
mercantilism are given elaborately-
• Mercantilists viewed the economic system as a “zero-sum game”, in
which a gain by one country results in a loss by other. Adam Smith
& David Ricardo argued that, trade should be a positive-sum game,
or a situation in which all countries can benefit.
• Mercantilism unduly emphasized the importance of money and
over-emphasized the importance of gold and silver. So Mercantilist
ideas about wealth were nonsensical and untenable.
19. • The mercantilists unduly emphasized the importance of a favorable
balance of trade. For the attainment of this objective they
discouraged imports by imposing heavy and prohibitive duties on
foreign goods and provided every possible ways to minimize
exports.
• The mercantilist assumption that the colonies existed for the benefit
of the mother was not a sound economic proposition.
• Mercantilism was a cause of frequent European wars in that time
and motivated colonial expansion.
• The mercantilist policies were designed to benefit the government
and the commercial class, rather than the entire population.
20. • The mercantilism over-emphasized the importance of commerce
and greatly undermined the importance of agriculture and other
branches of human industry.
• It does not promote free enterprise and free movement of goods
and people. And instead it allowed colonialism and monopoly of
businesses and trade practices. Objectives were simply to generate
wealth for the upper class and merchant class. The working people
were exploited and were even made as slaves with very low wages.
• Finally, Smith argued that the collusive relationship between
government and industry was harmful to the general population. He
criticized mercantilist trade policy of intervening and monopolizing
trade business.
21. Conclusion:
Mercantilist regulations were steadily removed over the course of
the Eighteenth Century in Britain, and during the 19th century the
British government fully embraced free trade and Smith's laissez-
faire economics. In France, economic control remained in the hands
of the royal family and mercantilism continued until the French
Revolution. The continued pressure resulted in the implementation
of laissez faire economics in the nineteenth century.