Difference between revisions of "Mercantilism"
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(Refer to mercantilist policy of British Empire) |
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| − | Mercantilism was a policy for a nation to increase its wealth based on exporting more goods to other nations and territories than importing from them. An excess of exports over imports increased the balance of trade and the acquisition of gold by the nation. Also, acquiring and using colonies to supply raw materials and provide foreign markets was a key aspect of mercantilism. | + | Mercantilism was a policy for a nation to increase its wealth based on exporting more goods to other nations and territories than importing from them. An excess of exports over imports increased the balance of trade and the acquisition of gold by the nation. Also, acquiring and using colonies to supply raw materials and provide foreign markets was a key aspect of mercantilism. Mercantilism was the [[United Kingdom|British]] policy at the time of the [[American Revolution]]. For this reason, the [[United States]] has always rejected mercantilism, choosing instead to run enormous [[trade deficit|trade deficits]]. |
Revision as of 14:08, February 24, 2007
Mercantilism was a policy for a nation to increase its wealth based on exporting more goods to other nations and territories than importing from them. An excess of exports over imports increased the balance of trade and the acquisition of gold by the nation. Also, acquiring and using colonies to supply raw materials and provide foreign markets was a key aspect of mercantilism. Mercantilism was the British policy at the time of the American Revolution. For this reason, the United States has always rejected mercantilism, choosing instead to run enormous trade deficits.