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
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}