Economics Dictionary of ArgumentsHome
| |||
|
| |||
| Mercantilism: Mercantilism is an economic policy that promotes government regulation of a nation's economy for the purpose of augmenting state power at the expense of rival national powers. It encourages the accumulation of gold and silver and relies on the export of goods to achieve a favorable balance of trade, which was thought to stimulate economic growth. See also Economic growth._____________Annotation: The above characterizations of concepts are neither definitions nor exhausting presentations of problems related to them. Instead, they are intended to give a short introduction to the contributions below. – Lexicon of Arguments. | |||
| Author | Concept | Summary/Quotes | Sources |
|---|---|---|---|
|
Adam Smith on Mercantilism - Dictionary of Arguments
Otteson I 30 Mercantilitsm/Adam Smith/Otteson: SmithVsMercantilism: What the Mercantilist forgets is that when British citizens buy wine from France, they do give up gold, but they get the wine - and that is what they wanted. Thus their situations are improved, according to their own lights, and that means they are relatively wealthier on Smith's definition of wealth. Understanding wealth in this way enabled Smith to explain why people would part with pieces of metal for goods or services: if they were not thereby benefitted, why would they have done so? Since each person always wishes to "better his own condition" (WN(1): 343), the argument of WN is that those policies and public institutions should be adopted that best allow each ofus to do so. In this case, it means Iowering trade barriers and encouraging free and open trade, even between people of different countries. >Wealth/Adam Smith, >Geographical factors/Adam Smith, >Division of Labour/Adam Smith. 1. Smith, Adam. (1776) The Wealth of Nations. London: W. Strahan and T. Cadell._____________Explanation of symbols: Roman numerals indicate the source, arabic numerals indicate the page number. The corresponding books are indicated on the right hand side. ((s)…): Comment by the sender of the contribution. Translations: Dictionary of Arguments The note [Concept/Author], [Author1]Vs[Author2] or [Author]Vs[term] resp. "problem:"/"solution:", "old:"/"new:" and "thesis:" is an addition from the Dictionary of Arguments. If a German edition is specified, the page numbers refer to this edition. |
EconSmith I Adam Smith The Theory of Moral Sentiments London 2010 EconSmithV I Vernon L. Smith Rationality in Economics: Constructivist and Ecological Forms Cambridge 2009 Otteson I James R. Otteson The Essential Adam Smith Vancouver: Fraser Institute. 2018 |
||
Authors A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
Concepts A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
