Mercantilism is associated with policies which restrict imports, increase stocks of gold and protects domestic industries. Mercantilism stands in contrast to the theory of free trade — which argues countries economic well-being can be best improved through the reduction of tariffs and fair free trade.
Understand the Characteristics of Mercantilism from the Modern and Past Points of View 04 August by Essaycheap in Other In modern world we can hear someone to call a certain person mercantile. What does that mean? What features make us think that a person acts in a mercantile way?
You can learn more about this specific feature in an essay on characteristics of mercantilism. Two Sides of Mercantilism To learn deeply about characteristics of mercantilism, you should be aware of two sides of this term. Historical Meaning Not all people know that characteristics of mercantilism date back to th century and history of economic theory.
According to the theory of mercantilism, the main idea of the theory was that the prosperity of a state directly depends on the amount of gold and silver it has.
Thus, a country becomes rich in case the income of gold and silver is higher than the outcome the balance is positive. Modern Meaning Based on the historical meaning, a new understanding of the term has appeared.
The new meaning mostly deals with philosophy rather than economy, and also touches upon some social, psychological and ethical issues. Basically, mercantilism is a way of thinking, when money and material values dominate over any other values in life.
A person, who stays for mercantilism and lives according to its principles is called mercantile. Ways to Write about Characteristics of Mercantilism As you can see, it is possible to look at mercantilism from the diachronic point of view, meaning that you can review the progress of the term.
However, mercantilism can also be reviewed from other sides. Explanatory Type of Writing It is possible to review the existing issue from the explanatory point of view.
This means that your task is not evaluate the existing situation, but tell that it actually exists and in what actions we can see the feature represented. You can carry out a research getting some statistical data or search for some information at libraries to make your paper efficient.
It will also be a good idea to write a definition essay and review the differences in getting the term by various scientists. Furthermore, it is possible to write a cause and effect essay about mercantile behavior, as it can be understood only based on actions received in result.
Argumentative Type of Writing If you want to write an argumentative essay about characteristics of mercantilism, you should modify the topic to make it disputable. Now you feel what it is possible to argue about and you can take a certain side to support. You should select some relevant arguments to make your reader sure, that you are right.
Also, find some weak points of the opposite point of view, so you can ruin the argumentation of your opponent. Descriptive and Narrative Types of Writing The other types of essay writing are rarely used for such kind of topics.
However, such assignments do not sound as serious academic papers. Nevertheless, choosing these ways of covering your topic shows your ability to think outside the box. Characteristics of Mercantilism Essay: Where to Get Help?May 02, · Best Answer: Mercantilism is an economic theory and practice common in Europe from the 16th to the 18th century that promoted governmental regulation of a nation’s economy for the purpose of augmenting state power at the expense of rival national powers.
It was the economic counterpart of political Status: Resolved. Mercantilism had an effect in many areas, including politics, economics and culture.
Some of the major impacts included the expansion of colonies overseas, increased government regulation of trade and the promotion of manufacturing. Many of these effects still influence global trade and politics in.
Aug 04, · Not all people know that characteristics of mercantilism date back to th century and history of economic theory.
According to the theory of mercantilism, the main idea of the theory was that the prosperity of a state directly depends on the amount of gold and silver it has/5(). What are the main features of mercantilism? Samir They were not permitted to carry on trade with the colonies except in some less important articles.
Industries were permitted to develop in the colonies only if they did not compete with the mother country. Obviously this policy led to complete neglect of the interests of the colonial people.
Mercantilism theory and examples Tejvan Pettinger March 31, trade Mercantilism is an economic theory and practise where the government seeks to regulate the economy and trade in order to promote domestic industry – often at the expense of other countries.
The features of mercantilism are. Foreign Trade. In the first place the mercantilists laid great emphasis on a favourable balance of trade. They held that the strength and richness of a country depends on two things-the possession of gold and silver mines and favourable balance of trade.