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CHARACTERISTICS of the MERCANTILISTA School and main representatives

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Mercantilist school: characteristics and representatives

The Mercantilist school designates the set of political-economic theories that develop in Europe between the centuries XVI and XVIII on Europe. The main characteristic of this school, which emerged in the middle of the absolutist stage, is its defense of the iState interventionism. The measures proposed by the mercantilists are grouped around the relations between the economy and politics, the intervention of the State and the control of the currency. They bet on a regulation of the economy from the State.

At the end of the 18th century, mercantilism declined until, in the middle of the XIX, disappears, giving way to the tPhysiocratic and Liberal Eories, which contributed enormously to the recovery of postwar Europe. In a teacher we will discover the characteristics of the Mercantilist School and representatives featured so that you know this lesson better.

It is called mercantilism to the political-economic system that defends the theory that, the greater the accumulation of precious metals, the richer a country is. Thus, the

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wealth accumulation, especially gold and precious metals, would be for this school, essential for a country to stay in power at the international level.

The large number of raw materials and metals that the invading countries stole during colonialism, as well as the cheap labor they found in the colonies, favored the birth of the colonialism, Specially in France and England.

This movement received harsh criticism from economists who defended the free trade, What Adam smith, who ensured that the free market and making good use of the resources they are the cornerstone of economic development.

Mercantilist School: characteristics and representatives - What is the Mercantilist School

Image: Economipedia

The most prominent representatives of the Mercantilist School are Thomas Mun, Jean Baptiste Colbert, Antonio Serra or Jean Bodin. Let's see what his main contributions were.

Jean Baptiste Colbert

His strategy consisted of protecting and promoting industry and agriculture with the granting of aid and credits, at the same time that it imposed very harsh restrictions on imports. Colbert he was a minister during the reign of Louis XIV from France. He opted for an interventionist and mercantilist economic policy (Colbertism), opening a multitude of monopolies and factories. He created the Code Black, inspired by Barthélemy de Laffemas, economist and adviser to King Henry IV.

Thomas mun

He was a economist English defender at all costs capitalism, and with incredible art to enrich any kingdom. His strategy was to increase the number of large exports while reducing imports. His basic rules were: use all possible resources, do not follow the fashions, and if you do, are only those of the country, do not use more means for exports than your own, lower the cost of precious local level.

Antonio Serra

ANDconomista Italian that showed that in the kingdom of Italy, there were few coins, not because of the exchange rate, but because expenses exceeded income, and that is why he was in favor of increasing the exports.

Jean bodin

French philosopher, politician, lawyer and economist, whose participation in absolutism was fundamental., In collaboration with Cardinal Richelieu and his team of jurists. In addition, he made important achievements in the development of the State theory, establishing the concept of sovereignty (The Six Books of the Republic), inspiring HobbesY Locke. Among his contributions to economics are his theories of command power, absolute power, power indivisible, perpetual power, limitation of the power of judges and their distinction between the State and the government.

Mercantilist School: characteristics and representatives - Main representatives of the Mercantilist School
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