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Mercantilism representatives

Doctrine of Incrementalist scholars and main concept<br>

SunnaChowdhury
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Mercantilism representatives

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  1. Representative Mercantilists We shall consider the views of some of the leading mercantilist writers. Thomas Mun (1771-1641): Thomas Mun was an Englishman. He has given a statement of mercantilists principal in his book “England treasure by foreign trade”. He has suggested twelve methods by which a country could have a favorable balance of trade. ;

  2. Mun recommends the cultivation of waste lands. Restrain on domestic consumption of foreign goods. With regards to exports consider neighbors necessary and attention to the commodity price.

  3. . Frugal use of natural wealth for more might be left for export. Fishing industry should be developed by English people to compete with Dutch.

  4. Encourage trade with far of countries. Money should be allowed to export itself. Export by own ship of country to increase the value of countries export

  5. Manufactures of foreign materials such as velvets and silk should be allowed to be exported free. He suggests that “ we must endeavor to make the most we can of our own”

  6. Antonio serra(1580-1650): Serra has given the some reasons for the mercantilists preference of industry to agriculture. Industry is safer than agriculture. Industry is subject to law of increasing return. Industry has a sure market. Industry is more profitable than agriculture.

  7. Phillip von Hornick (1638-1650): He laid down some certain rules for the accumulation of gold and silver. The following are the important points: The countries soil should be used to the maximum extent. Commodities should be works up in the country Population should be encouraged.

  8. When once gold and silver are in the country they must not be allowed to go out of the country for any purpose. People must be use own domestic product. Payment must be made by in kind by export commodity. No imports should be allowed of a commodity if there is sufficient supply of the same commodity.

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