This economic doctrine is the basis of a work by Eli Hecksher and forms a chapter in the General Theory of Keynes.
This economic doctrine is the basis of a work by Eli Hecksher and forms a chapter in the General Theory of Keynes. It holds that imports of manufactured goods should be restricted and that exports generate wealth for a nation. This theory holds that trade generates wealth and is stimulated by the accumulation of bullion. A fallacious implication of this theory is that trade benefits one country at the expense of another, which was shown false by Adam Smith and the advent of laissez-faire policies. FTP, identify this economic system that flourished in Europe from the 16th to 18th centuries.
This economic doctrine is the basis of a work by Eli Hecksher and forms a chapter in the General Theory of Keynes.
{mercantilism}