Mercantilism. Disclaimer: The views expressed are those of the presenters and do not necessarily reflect those of the Federal Reserve Bank of Dallas or the Federal Reserve System. Feudalism. System of political organization prevailing in Europe from the 9th to about the 15th centuries
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Disclaimer: The views expressed are those of the presenters and do not necessarily reflect those of the Federal Reserve Bank of Dallas or the Federal Reserve System.
Level of gold viewed as fixed
Protection of resources/standard of living
Zero sum game
Purchase of products/resources from external sources allowed specie to leave the country
Dutch had 4,785 ships
East India Company had 2,690 ships with about 1/5 of the tonnage
Support of policies which would provide the necessary infrastructure to protect industry
Support of policies which provided for agrarian markets that functioned with minimal government intervention
Focus on increasing production, employment, and thus standard of living through trade restrictions and commercial development
Significant export industries provide the necessary tools for economic development