Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/184868
Authors: 
Spahn, Peter
Year of Publication: 
2018
Series/Report no.: 
Hohenheim Discussion Papers in Business, Economics and Social Sciences No. 26-2018
Publisher: 
Universität Hohenheim, Fakultät Wirtschafts- und Sozialwissenschaften, Stuttgart
Abstract: 
Mercantilist theories and policies in early capitalism have been criticized for confusing microeconomic and macroeconomic sources of wealth, for misunderstanding the benefits of free trade, and for overrating the role of money. This paper aims to reconstruct the rationality of mercantilism as an efficient strategy of economic development. It presents a critical assessment of David Hume's specie flow mechanism that counts as a major rebuttal of mercantilism and collects insights of early writers into the working of a monetary economy.
Subjects: 
trade war
trade surplus
specie flow mechanism
bank reserves
development
JEL: 
B1
F4
N1
Persistent Identifier of the first edition: 
Document Type: 
Working Paper

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