Mercantilism

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Mercantilism

  1. 1. Mercantilism
  2. 2. Mercantilism defined• An economic idea which asserts that government control over foreign trade is necessary for the prosperity and security of the nation.
  3. 3. Characteristics of Mercantilism• Tariffs to protect domestic businesses from foreign competition.• Building a network of overseas colonies to provide raw materials and a market for manufactured goods.• Exporting more than you import. EXCEPT gold and silver. Do not export these at all.
  4. 4. Mercantilism in action
  5. 5. Problems with Mercantilism• It promotes “the popular folly of confusing wealth with money.” –Adam Smith• Mercantilism creates government-guaranteed monopolies, which stagnates trade.• It assumes that the colonies will not create a manufacturing base or a merchant class of their own.

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