The Main Theoretical Weaknesses of Mercantilism - 8168 Words

What are the main theoretical weaknesses of Mercantilism? Mercantilism is a theory that basically just defends a mother countrys regulation over its societies. This power has both different gains and disadvantages. The property that rules the settlements can become much better-off and more controlling a great deal more speedily. Nevertheless, the settlements can feel like they are being taken advantage of and start rebelling; maybe even start their own country. The Navigation Laws were Englands way of making the most profit possible from their colonies in North America. With that said, there are still some weaknesses that cause this system not to be as effective as it could have been. One of these weaknesses was the war and the imperialism. Mercantilism during that time was looked at as economic warfare and was supposed to be well-matched to an era of military warfare (Helleiner, 2002) its weakness was the thought that since the level of world trade was seen as secure, and it followed that the sole way to upsurge a countrys trade was to take it from another. They thought that they could do this with ease and without consequences. A lot of wars, most particularly the Franco-Dutch Wars and Anglo-Dutch Wars can be connected straight to mercantilist theories that were weak. A lot of wars did have other causes but they supported mercantilism by plainly defining the enemy, and justified damage to the enemys economy which was a grave weakness because they really didShow MoreRelatedThe Impact of Agricultural Sector on Economic Growth in Nigeria18675 Words   |  75 Pagesof others to inform and stimulate new thinking about Nigeria’s agricultura l development This paper examines Nigeria’s agricultural development trajectory from multidimensional perspectives. The perspectives include the succession of conceptual-theoretical constructs, empirical political economy experience, man’s economic histo ry and economic role-milieu of the agricultural sector. The time dimension is very unique. Nigeria has attained 50 years of political independence. It is auspicious to retrospectRead MoreOne Significant Change That Has Occurred in the World Between 1900 and 2005. Explain the Impact This Change Has Made on Our Lives and Why It Is an Important Change.163893 Words   |  656 Pagesinterwar campaigns for human rights and dignity, principles were enunciated and precedents established that would form the basis for the more broadly based human rights struggles of the last half of the century. Due in large part, however, to the weaknesses of the League, resistance to the rise of internal repression and interstate aggression in the interwar years was feeble at best. Stalinist, fascist, and Japanese militarist contempt for civil rights, much less even peaceful protest, opened the