Changes

'''Mercantilism''' is a [[policy]] for a [[nation]] based on a positive trade surplus, meaning that an increase in [[wealth]] is based on exporting more [[goods]] to other nations and [[territories]] than importing from them.

'''Mercantilism''' is a [[policy]] for a [[nation]] based on a positive [[trade surplus]], meaning that an increase in [[wealth]] is based on exporting more [[goods]] to other nations and [[territories]] than importing from them.

Today the [[Amish]] flourish, doubling their population every 20 years, by practicing the basic tenet of mercantilism:  exporting (to outside communities) more than they import.

Today the [[Amish]] flourish, doubling their population every 20 years, by practicing the basic tenet of mercantilism:  exporting (to outside communities) more than they import.

==Background==

==Background==

Relying almost exclusively upon interventionist and centralized government, a mercantilist system depends heavily upon giving subsidies to politically favored businesses, often under the guise of infrastructure development combined also with a central bank with monopoly power. Additionally protectionism is favored and the [[nationalization]] of industries is welcomed, generally if it promotes export and trade.<ref>[https://www.google.com/books/edition/World_Civilization/mY7McxJl7jYC?hl=en&gbpv=1&pg=PA226 World Civilization, A Brief History]</ref>

Relying almost exclusively upon interventionist and centralized government, a mercantilist system depends heavily upon giving subsidies to politically favored businesses, often under the guise of infrastructure development combined also with a central bank with monopoly power. Additionally protectionism is favored and the [[nationalization]] of industries is welcomed, generally if it promotes export and trade.<ref>[https://www.google.com/books/edition/World_Civilization/mY7McxJl7jYC?hl=en&gbpv=1&pg=PA226 World Civilization, A Brief History]</ref>

==America==

==America==

As mercantilism was the British policy at the time of the [[American Revolution]], the [[United States]] initially rejected mercantilism.  Though many of the [[Federalist]]s, especially [[Alexander Hamilton]], were huge proponents of mercantilism, disagreeing only with who was in charge,<ref>[https://www.cato.org/blog/alexander-hamilton-banking-mercantilist Alexander Hamilton, Banking Mercantilist]</ref> by and large the Founding Fathers preferred the work of [[Adam Smith]] with free capitalist markets and economic individualism.<ref>[https://www.google.com/books/edition/Economics/O5i-d3thv-4C?hl=en&gbpv=1&pg=PA52 Economics - Theory and Practice]</ref>

As mercantilism was the British policy at the time of the [[American Revolution]], the [[United States]] initially rejected mercantilism.  Though many of the [[Federalist]]s, especially [[Alexander Hamilton]], were huge proponents of mercantilism, disagreeing only with who was in charge,<ref>[https://www.cato.org/blog/alexander-hamilton-banking-mercantilist Alexander Hamilton, Banking Mercantilist]</ref> by and large the Founding Fathers preferred the work of [[Adam Smith]] with free capitalist markets and economic individualism.<ref>[https://www.google.com/books/edition/Economics/O5i-d3thv-4C?hl=en&gbpv=1&pg=PA52 Economics - Theory and Practice]</ref>

==See also==

==See also==