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An essential problem in presenting the history of economic thought is following its formal periodization in an attempt to present the development of economic theory in the form of an evolutionary, internally logical process, where each new school absorbs the achievements of the previous, solves problems unresolved by its predecessors, understands the practical benefits of the proposed schools. These are the requirements of the methodology and norms of the established scientific tradition, modeled since the time and work of many researchers. In recent times, everything is different and we must admit that the diversity of economic scientific schools that exist today can confuse any researcher if he tries to stubbornly adhere to traditional approaches to presentation, without corrections. The recent history of economic thought, formalized in the diverse works of scholars, many of whom have not yet succeeded in entering universally recognized scientific schools, is the most complex subject of scientific analysis. Realizing this we will make a brief overview of the situation, trying to answer some important questions for us - what is the economic science for the XXI century, what are its goals, what approaches are missing in its basics, how to use its achievements in work and how to explain to the audience news in the economic policy of the country. [ABSTRACT FROM AUTHOR]

Between the French Revolution (1789) and the outbreak of the Springtime of the Peoples (1848), European economic thought debated between the defense of protected markets and the proper opening of capitalist markets. In this paper, we address this process specifically in the framework of the German intellectual scene, from the bibliographic debates of the time, as a historical marker for a more complete understanding of the Hegelian conceptualization of political economy, its scope, limitations, and projections. [ABSTRACT FROM AUTHOR]

Sraffa rescues the classical analysis and puts it in discussion with mainstream theory. The thesis of this paper is that his ontological analysis, specified in the market snapshot, allows us to understand Sraffa's theoretical position and, in turn, is a method to assess his traditional interpretations as well as the new perspectives arising from the reading of his drafts. Its position is not entirely precise, so it is necessary to include conventions, which open the way to institutional analysis. Finally, starting from the contrast with other interpretations, it proposes to defend the coherence between the vision of the world and the ideas developed. [ABSTRACT FROM AUTHOR]

The paper discusses the influence of the proportions of production factors on the establishment of public equilibrium. The theory of production factors occupies an important place in the history of economic thought. The creator of the theory of factors is considered to be the famous French economist Jean Baptiste Say (1767-1832). J. B. Say campaigned against mercantilism and protectionism and advocated a policy of free trade. Factor theory finds significant application in the international division of labor. Another French economist, Frédéric Bastiat, developed the theory of economic harmony. In this theory F. Bastiat sought to reach an economic agreement between different groups of the society, through their cooperation. Canadian engineertechnologist P. Monsarov developed a theory of four factors. Nowadays, Heckcher-Ohlin Theory is widely used in the international division of labor. [ABSTRACT FROM AUTHOR]

The role of agri-food trade in food security and agricultural development is substantiated in the article. There is Assessed food trade challenges, export restrictions and import facilitation during the Covid-19 crisis. The paper examines the changes in supply caused by various factors in the production sector in the agri-food sector, hypothesizing that food demand is relatively stable financially, as well as during various crises. The paper analyzes the views of scientists on the difficulties caused by the pandemic, on the basis of which two development scenarios are formulated. Opportunities have been identified for the continuation of trade in agri-food products between countries, and there is a reasonable view on the incentives for trade in these products in the short and long term. In the process of research, through comparative analysis, the indicators of trade in agri-food products of Georgia in the pre-pandemic (2018-2019) and post-pandemic (2020-2021) periods are grouped, positive and negative trade trends are identified. At the same time, based on the results of the global financial crisis and the pandemic, an in-depth analysis of typical and atypical crises has been conducted for the agri-food sector around the world and in Georgia. Based on the results of the research, a matrix has been compiled to determine the growth and decline rates of trade in agri-food products before and during the pandemic. The paper draws conclusions and makes recommendations on food trade challenges and trade improvement measures during the Covid-19 crisis. [ABSTRACT FROM AUTHOR]

Book IV of Adam Smith's Wealth of Nations concerns two rival economic theories, Mercantilism and Physiocracy. The latter, François Quesnay's system, occupies only the ninth and final chapter, and it begins with a stunning dismissal. Yet, fifteen pages later, Smith praises this theory to the skies. That cries out for explanation. Like Mercantilism, Smith's system emphasizes commerce, whereas Quesnay's is confined to agriculture. But like Physiocracy, Smith's system is built on individual liberty, whereas Mercantilism is one of government control. Despite his initial put-down, Smith is naturally inclined more toward Quesnay's philosophy. And the main thesis of my paper is to suggest one reason for this that has not previously been brought to light, and that can explain Smith's extravagant praise for it. Quesnay employs a Newtonian scientific method different from the one emphasized in Smith's early 'Astronomy' treatise, a method Smith first prominently introduced a decade after his meetings with Quesnay, in Wealth of Nations and Smith's eulogy for Hume (1776), and in the sixth (1790) edition of his Theory of Moral Sentiments. [ABSTRACT FROM AUTHOR]

This paper questions the conventional scholarly view that early Chinese economic thought simply conceived of farming and commerce as mutually opposing forces. It argues that during Western Han times there existed a significant distance between court rhetoric and economic reality and suggests that, in reading official discourse, one should be cautious not to emphasize the economic over the political. The paper re-examines a series of well-known court memorials and concludes that few questioned the ethics of how wealth should be generated as long as political control could be maintained and the Han court was on the receiving end of it. [ABSTRACT FROM AUTHOR]

Mercantilism is the old system of global trade and commerce that directly preceded modern standard economics. Mercantilism is usually criticized because of the restrictions on free trade and free markets imposed by governments. In this article I have developed a deeper criticism of mercantilism as an extension of the basic strategy for operation of an individual household or business to a set of principles for running an entire economy. Although intuitive, the extension in thinking is seriously flawed. Nowadays, mercantilist thinking is largely officially absent from modern international trade relations, but the deeper criticism discussed in this article clearly implies that mercantilist thinking more or less completely dominates the organization of the domestic economies of most nations worldwide. I have given this phenomenon the name "domestic mercantilism." Once the groundwork is done, I argue that several "wisdoms" in standard economics on topics such as the role of taxation, the value of resource extraction, foreign investment, and the relationship between public and private are clearly bad economic science, because they are based on the error of mercantilist thinking in the domestic economy. Finally, I have discussed ways in which the new sustainable economics is, quite rightly, eliminating mercantilist thinking from the organization of sustainable economies, making sustainable economics the greatly preferable model (over standard economics). [ABSTRACT FROM AUTHOR]

This article examines the causes of the decline of imperial Spain as set forth in the works of Hume, Smith, Robertson, and other eighteenth-century writers, primarily Scottish. As in the classic case of the decline of the ancient Roman republic and empire, moral causes related to Spain's national character and its distortion under the impact of imperial wealth were sometimes adduced. Nevertheless, the famous Roman precedent proved inapplicable, for the most part, to modern experience. There was a decisive shift, in the case of Spain. Arguments drawn from Scottish political economy focused on the self-defeating character of the Spanish quest for precious metals and its related bullionist and mercantilist policies. The Spanish case also contributed significantly to the economic critique of imperialism and highly regulated imperial economies as an aspect of the general rejection of mercantilism. [ABSTRACT FROM AUTHOR]

The article focuses on political economy of Great Britain. Topics discussed include economic theory, economic policy and book "Theories of Surplus Value" by Karl Marx. Other topics which includes subsistence economy, mercantilism policy and foreign money are also discussed. In addition, export of goods from Great Britain are also mentioned.

By means of an in-depth analysis of 132 partnership agreements, which had been notarized in the city of Antwerp between 1480 and 1620, the present article aspires to provide a substantiated narrative on the use as well as legal features of private partnerships in the early modern Low Countries. In so doing, it became apparent that such small-scale partnerships constituted an effective means in the hands of, mostly non-related, merchants and craftsmen who were looking for legal certainty. Moreover, the examination of these partnership agreements demonstrated the wide-ranging contractual freedom that contracting parties in sixteenth-century Antwerp could dispose of and that therefore historical reality not necessarily complies with legal ideas and concepts provided for by legislative or statutory documents. [ABSTRACT FROM AUTHOR]

The author comments on the article "Wellbeing Economics: A Policy Framework for New Zealand" by Paul Dalziel and Caroline Saunders. He explores the doctrine of mercantilism in the field of economic theory and the relationship between production and consumption. Other topics discussed include the performance of the New Zealand economy, the link between unemployment and life satisfaction, and the search for economic security.

Copyright of Canadian Journal of Latin American & Caribbean Studies (Canadian Association of Latin American & Caribbean Studies (CALACS)) is the property of Canadian Association of Latin American & Caribbean Studies (CALACS) and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Most treatments of protectionism by economists try to account for the departure on a case-by-case basis. However, protectionism is often an element in a systematic political economy. This was developed by authors such as List, and persists today. Debating it requires normative as well as analytical arguments in a political economy approach. [ABSTRACT FROM AUTHOR]

Copyright of Revista Cultura Económica is the property of Pontificia Universidad Catolica Argentina and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

This historiographical article discusses the development of naval warfare in the early modern period and its relationship to the European economic reason of state. Such economic progress was largely characterized by the rise of maritime commerce and an early form of economic globalization. More importantly, economic interests and state formation combined during this period, thereby linking economics and trade with military, and more specifically naval, power. The author uses the Dutch East India Company as an example of this link. He goes on to examine the mutual relationship between naval power projection and economic policy.

Beginning with the current global and European imbalances and crises and consideration of the German reaction to them, the paper explores the political economy origins of the conservative German policy stance. It emerges that an export-oriented economy was a deliberate decision of the German elite after World War II and that the external constraint may be regarded as appropriately designed for internal discipline and efficiency in a self-reinforcing process. [ABSTRACT FROM AUTHOR]

Copyright of Relaciones Internacionales is the property of Facultad de Ciencias Politicas y Sociales and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

The name of Adam Smith is always associated with the development of the invisible hand, the differentiation of labour and with the foundation of the economic liberalism, so that his book the Wealth of Nation is still in fashion. Based on the criticism of mercantilism system Smith develops his own economic system. Furthermore this economic system is more than pure discretion, it is also instruction which role the market and the state have to fulfil. Smith attributes to the market his famous role, the free function of the price system. Whereas the function of the state is limited to three tasks and no intervention into the market or price process are allowed. [ABSTRACT FROM AUTHOR]

The mercantile thought is the key word to the research of social transformation in Late --Qing Dynasty. The thought includes rich political economy content rather than traditional economic thought. The paper points out that the multi--dimensional feature of the mercantile thought is the result of gradual progress which presents a developing way to industrialization and institutionalization. The mercantile thought tries to break structural constrain of the traditional society and push social transformation. However, the feudal government did not undertake the reform successfully. Therefore, the influence of mercantile thought is rather limited, and the economic modernization did not make remarkable progress. [ABSTRACT FROM AUTHOR]

In the popular debate about globalisation, supporters and detractors seem to agree on one thing—that a globalised economy can be described as 'neo-liberal'. I challenge this. The world system is far from liberal, in fact in many ways it reflects the system that early liberal economists railed against—mercantilism. I contend that neither liberalism nor orthodox Marxism is a useful lens through which to view and understand the international order. New Left ideas of dependency theory and world systems theory are useful, but what they describe is not neo-liberal capitalism, but mercantilist capitalism. To explain this I offer the concept of 'structural mercantilism' as a new and more accurate descriptor of the current world economic order. This concept refers to the institutional and ideational structures which have been built by and in the interests of rich countries and corporations, and can be used to explain how rational thought can lead to irrational outcomes. [ABSTRACT FROM AUTHOR]

Mercantilism (16th-18th centuries) is a set of precepts concerning economic policy. It places the State at the heart of national economic development. Wealth is conceived as serving power. Mercantilists share a static conception of international economic relations, considering that one country can only enrich itself to the detriment of another. It is a true theory of economic war. However, the development of mercantilism shows a progressive transition of economic thought towards a lower consideration of political aspects. [ABSTRACT FROM AUTHOR]

An essay is presented on the argument that Cheapside commercial street in London, England is a place of circulation. It offers some important perspectives on symbolic economy, exchange and equivalence, and gold as the universal equivalent at a time of mercantile transition and change. The author relates Cheapside street to the gold as a place of never-ending exchange and circulation and the various equivalents that marks the vision of social relations and institution in early modern London.

This article compares the portrayal of social relationships in Fortunatus (Augsburg 1509, and Köln 1588 [Frankfurt group]) and in the little-studied English translation by "T.C." (Ca. 1610-1615). Close analysis of the texts illustrates the difference in social and economic circumstances of early 16th-century Augsburg and early 17th-century London, focusing on such developments as: the changing significance of Famagusta; the replacement of feudalism with a fiscal economy; the suppression of Fortunatus's mercantile activities and the accentuation of his gentlemanly qualities; and the fixing of gender roles to the detriment of the female characters. [ABSTRACT FROM AUTHOR]

Abstract: Franco Venturi famously emphasised the importance of the ‘English Model’ for Italian reformist culture in his Settecento riformatore. This essay contributes to the history of the development and evolution of the ‘English Model’ beginning with its influential appearance in Antonio Genovesi''s 1757–1758 translation of John Cary''s 1695 Essay on the State of England. The ‘English Model’ was not a stable concept and, in fact, one tradition inverted the model''s meaning, rejecting the need for protectionism and instead embracing a providential faith in laissez-faire. This tradition began with an important, but falsified footnote in Carlo Denina''s 1769–1770 Rivoluzioni d’Italia. In this note and the tradition that adopted it, Lorenzo de’ Medici''s imagined English wool factories became the locus of this inversion, and, through a reading of Adam Smith''s Wealth of Nations, blaming the Medici as agents of Italy''s aberrant historical development became an alternative to blaming English economic imperialism in late eighteenth-century Italy. The narrative of Medici involvement in the decline of Italy was finally realigned with Genovesi''s original intention under the auspice of Pope Pius VI in 1794. [Copyright &y& Elsevier]

This article explores the development of the London East India agency houses during the first half of the nineteenth century, and their evolving commercial and political relationships with merchants and manufacturers in the British provinces. It outlines the emergence of pressure groups in Britain concerned with influencing British economic policy in India and the Far East, and their role in shaping policy as the East India Company receded in importance following the Charter Acts of 1813 and 1833. What emerges is a complex picture of collaboration between interest groups in London and the provinces. This challenges and refines aspects of the gentlemanly capitalism thesis of Cain and Hopkins, which emphasizes both the supremacy of London-based financial and mercantile interests in the formation of British policy towards the empire, and the separateness of City-based ‘gentlemanly capitalists’ from provincial mercantile and industrial interests. [ABSTRACT FROM AUTHOR]

This article explores some of the main bibliographical dimensions of economic literature at a time when there was much interest in economic matters but no discipline of economics. By looking at what was published in the round much economic literature is shown to be short, ephemeral, unacknowledged, polemical, and legislatively orientated. This fluidity is underscored by the uncertaintities about what constituted key works of economic literature and by the failure of attempts to make sense of that literature through dictionaries and histories. Economic literature in the period was, consequently, more unstable and uncertain than has often been acknowledged. It cannot, therefore, be simply characterized as either ‘mercantilist’ or nascent ‘political economy’. [ABSTRACT FROM AUTHOR]

The article discusses the foundational elements of the Continental tradition of the late nineteenth and early twentieth centuries and certain of their relations to modern public choice theory. The article argues that the said Continental approaches were rather different, with distinct German, Italian and Swedish approaches to the analysis of public economics and the political factors that attend it. The article starts by tracing the origins of the Continental orientation in the work of the cameralists, then describes the emergence of a distinct Continental orientation in the late nineteenth century. It ends by noting how the development of public choice in the second half of the twentieth century is really a continuation of the Continental orientation toward public finance.

Smith uses his analysis of bounties to form one aspect of his overall critique of the mercantile system. He stresses the fact that the system of bounties has not promoted the development of the English economy. However, Smith also stresses that, as destructive as the system of export bounties is to public welfare, these bounties are not significant enough to greatly retard the growth of the English economy, which has more to do with secure property rights and securing investors their return on their investments. [ABSTRACT FROM AUTHOR]

This paper advances the argument that moves towards regional integration need to be understood as 'regional governance projects' undertaken by domestic actors and coalitions. Regional political projects--such as open regionalism--have roots in domestic structures, and it is this which defines the broad configuration of the regional political economy. On the basis of this framework the paper suggests, first, that the strategy of open regionalism was contingent on a particular configuration of power and interests in the domestic and external economy (embedded mercantilism). Second, this system of embedded mercantilism depended on a set of domestic coalitions between tradeable and non-tradeable sectors of the economy. The non-tradeable sector in Southeast Asia was entrenched within a particular system of political patronage. Third, the Asian crisis and other structural changes in the international economy have made these domestic coalitions less sustainable, thereby creating opportunities for new forms of regional governance projects. [ABSTRACT FROM AUTHOR]

The article discusses the mid-seventeenth and mid-nineteenth century Judaism and economic practices of the Jews focusing on mercantile and intellectual elite Jews in Germany. It states that the elimination of the link between the religious and economic spheres of Jews which began in Western Europe, contributes much to their modernity and to the birth of the Jewish political economy in Germany. It also mentions the generation of Berlin Haskalah, including the generation of Moses Mendelssohn upto Herz Homberg, which aims to reform Jewish life and Judaism.

How and why do economies grow? This paper surveys recent research into pre-classical economies, with particular emphasis on the mercantile period as to the adequacy of an answer of this critical question. Historical, 'ideational' and neoinstitutionalist approaches are analyzed as independent explanations for institutional change. While all of these approaches are found to have value, this survey argues that an unabashedly modern version of Marshallian economics has the greatest explanatory power. [ABSTRACT FROM AUTHOR]

Discusses the emergency of economics as an academic subject during the 18th century in Scandinavia. Economic policy; Quantity theory of money; Definition of mercantilism.

The article presents abstracts of papers discussed at the annual meeting of the History of Economics Society (HES) in Fairfax, Virginia from May 20 to 25, 1985 including mercantilism in Sweden during the 18th century, interpretation of the views of English mercantilists by economist J. M. Keynes, and the working relationship between Keynes and colleague D. H. Robertson before 1940.

The article asserts that, in addition to the influence of other factors, the classic mercantilist thinking is still an important factor in forming practical trade policy, despite what is said in economic theory and trade declarations. According to David Ricardo in his book "Principles of Economic Theory and Taxation," mercantilist thinking stressed the importance of export trade as a means of acquiring precious metals or specie, which were intimately associated with wealth. The article cites that an examination of practical trade policy revealed that behavior indicates that the theory of comparative advantage has had a limited impact on practical policy considerations.

This paper presents a theoretical elaboration of the ethical framework of classical capitalism as formulated by Adam Smith in reaction to the dominant mercantilism of his day. It is seen that Smith's project was profoundly ethical and designed to emancipate the consumer from a producer and state dominated economy. Over time, however, the various dysfunctions of a capitalist economy -- e.g., concentration of wealth, market power -- became manifest and the utilitarian ethical basis of the system eroded. Contemporary capitalism, dominated as it is by large corporations, entrenched political interests and persistent social pathologies, bears little resemblance to the system which Smith envisioned would serve the common man. Most critiques of capitalism are launched from a Marxian-based perspective. We find, however, that by illustrating the wide gap between the reality of contemporary capitalism and the model of a moral political economy developed by Smith, the father of capitalism proves to be the most trenchant critic of the current order. [ABSTRACT FROM AUTHOR]

This paper interprets seventeenth-century mercantilism in light of recent theories of strategic trade policy. Long-distance international commerce during the mercantilist period was undertaken chiefly by state-chartered monopoly trading companies and was therefore conducted under conditions of imperfect competition. The economic structure of the Anglo-Dutch rivalry for the East India trade provides an excellent illustration of an environment in which the profit-shifting motive for strategic trade policies exists. Dutch supremacy in the early East India trade was facilitated by a managerial incentive scheme in the monopoly charter that enabled it to achieve a Stackelberg leadership position against the English. Using data from the East India trade around 1620 in a Cournot duopoly model, I find that the managerial incentives yielded greater Dutch profits than would have been obtained from a standard profit-maximizing objective and that the scope for other strategic trade policies was clearly present. [ABSTRACT FROM AUTHOR]

The article discusses the work of William Petty in the field of economic theory. Petty's economic writings are divided into three chronological groups corresponding to a distinct period in his life and containing books that have a common provocation and common characteristics. The characteristic subject of the first group is taxation. The second group contains his pamphlets entitled "The Political Anatomy of Ireland" and "Political Arithmetic." The third group contains the more numerous but briefer pamphlets. The claim of Petty's writings to economic recognition rests upon the basis of their method and their content. Petty used the statistical method in his writings and he was one of the most extreme among English mercantilists.

The author has used the term "haute politique" to denote that substantial element of naked power in the business activities of businessmen directed at actual or potential competitors and the outside public by means of which concerted undertakings designed to "regulate disorderly markets," "adjust production to consumption," or "stabilize competitive conditions" are negotiated, modified and enforced. According to the author the economics of international commodity haute politique is basically the economics of Mercantilism. The area is, of course, no longer the small geographic state but rather the world market for a given commodity or set of commodities. The power and strength to be magnified is no longer that of a national sovereign but that of an international industrial empire. National states, useful for tariffs and other favors they provide, have jurisdiction over only a portion of the area which international business haute politique organizes and governs.

So many of the economic pamphlets of the seventeenth and eighteenth centuries were written by merchants and men of affairs that it is both refreshing and interesting to find tracts on economic subjects written by men of science. The Lansdowne Manuscript No. 691, in the British Museum, contains an elaborate economic program prepared for Queen Anne by Dr. Nehemiah Grew. The author was a friend of Sir William Petty, a famous natural scientist and an active member of the Royal Society. The richness of Petty's writings was in a large measure due to the fact that he was not only a man of affairs but a student of natural science. The Royal Society was the spiritual center for scientific discussion during the latter part of the seventeenth century and onward. Not least among its illustrious members was Dr. Nehemiah Grew. Although Grew is well known in the history of science, his contribution to economics is still in manuscript and is little known; it is not even mentioned in the biographical article in the Dictionary of National Biography.

The article presents abstracts of studies on economic history, economic development and national economies. Economic Development: Normative Criteria by E. Barteli states that the normative criteria of the economist and those of the moralist or social philosopher are analytically distinct. Nevertheless, the very construction of models of growth and development for analysis is likely to implicate moral and social norms. In allocation analysis of development, for example, it is not sufficient to abstract from moral and ethical effects by relegating them to the area of distribution, with reliance upon compensation as a mechanism for neutralizing social and moral changes in the development process. It is highlighted in the study The Management of a Sixteenth-Century Ironworks by D.W. Crossley that the change to modem methods in the 16th-century English iron industry put strain on management due to the increased complexity of processes and the greater problems of raw material supply. In the study The Rise of Protection in England, 1689-1786 by R. Davis it is stated that the needs of the crown for money, and political hostility to France, rather than mercantilist theory, brought about the protection of English industry by tariff walls.