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Mercantilism Essay Topics & Paper Examples

Mercantilism & economic school

Mercantilism was a dominant economic school on Europe in XVI-XVIII century. The theory suggests that the global turnover of international trade is constant and the prosperity of a nation depends on the government ability to support a positive balance of trade with other nations. Mercantilism considers economic assets as a set of stock including gold, silver and trade value (bullion). The way for the government to increase the capital is to intervene into economy through the system of tariffs and restrictions aimed on increase of export and decrease of import. There are several basic flaws in mercantilism. The first one is that is assumes that the turnover of international trade is stable. Thus, in case one state constantly benefits and…

Economic theory of mercantilism

Mercantilism was popular and it was the prevailing economic philosophy in the Great Britain, the Netherlands, Spain, and France from the 16th to the 18th century (Gabay, et al. 2007). Gabay, ET al. asserts that according to the theory of mercantilism, for a nation to become rich and powerful, it needs to export more and import less. This basically meant that a nation on its conquest to grow richer, it had to achieve that at the expense of other nations. The difference would be an inflow of precious metals mostly gold. The more gold a nation had the richer and powerful it was. Due to this idea, mercantilists pushed for the government to restrict import and stimulate export and the…

Salutary Neglect Essay

For the period before 1750, analyze the way in which the British policy of salutary neglect influenced the development of American society as illustrated in legislature assemblies, commerce and religion. The policy of salutary neglect influenced the development of American society. It gave the colonies a chance to govern themselves and to develop separately from England. It let them make their own laws that would benefit the people in the colonies. Because of this there was religious freedom. It unified the colonies and gave them a sense of nationalism. Even though England believed in a system of mercantilism, Sir Robert Walpole espoused a view of “salutary neglect?. In this system the British had very little interference in the international affairs…

Social responsibility

What’s required to implement an organization commitment to social responsibility? What are the main obstacles to implementing socially responsible policies? Name specific actions that can be taken toward increased social responsibility. In order to implement an organizations commitment to social responsibility it is necessary to identify values held by society, how the organization intends to address, and then develop training programs and policies on what the organization plans to do to successfully fulfill its obligation. Also, clarifying how the policies relate to the organizations strategies, individual functions and goals. The main obstacles an organization faces when implementing socially responsible policies is pressure from stockholders and business analysis who want steady increase in earnings. Without steady increase in profits, it becomes…

International trade theory

Abstract In this reading a number of international trade theories are explained to help the reader better understand why it is beneficial for a country to engage in international trade, and explains the patterns of international trade that is observed in the world economy. It is understood how the theories of Smith, Ricardo, and Heckscher-Ohlin all make strong cases for unrestricted free trade. In contrast, the mercantilist doctrine and, to a lesser extent, the new trade theory can be interpreted to support government intervention to promote exports through subsidies and to limit imports through tariffs and quotas. In explain the pattern of international trade, the exception of mercantilism, which is silent on this issue, the different theories offer largely complementary…