Assuming that trade is a zero-sum game, it thus led to the imposing by nations of trade protection acts such as the Navigation Acts.
A common theory and practice in Europe from the 16th through the 18th century, it asserts that the government should regulate a nation's economy mainly for the purpose of augmenting the state's power at the expense of rival national powers. Assuming that trade is a zero-sum game, it thus led to the imposing by nations of trade protection acts such as the Navigation Acts. For ten points, name this theory which was opposed by Adam Smith who instead preferred a free market economy.
A common theory and practice in Europe from the 16th through the 18th century, it asserts that the government should regulate a nation's economy mainly for the purpose of augmenting the state's power at the expense of rival national powers.
{mercantilism}