The economic doctrine known as mercantilism appeared between the Middle Ages and the period of the introduction of laissez-faire. Mercantilism can be dated roughly from 1500 to 1776. <br>In this chapter, we will discuss the major tenets of the Mercantilism with ideas of some mercantilists.<br>A feudal system (also known as feudalism) is a type of social and political system in which landholders provide land to tenants in exchange for their loyalty and service. The self-sufficiency of the feudal community slowly gave way to the new system of merchant capitalism. Cities, which had been growing gradually when the Middle Ages medieval, became ly important. Trade flourishedboth within each country and between countries, and the use of money expanded. <br>The discovery of gold in the Western Hemisphere facilitated the growing volume of commerce and stimulated theorizing about precious metals. Great geographical discoveries, based in part on the development of navigation, were extending the sphere of commerce.<br>Production was small scale but was increasing. Although the merchants remained “contemptible tradesmen ” in the eyes of the “landed aristocracy”, the merchant capitalists were becoming key figures in the world of business. <br>National states were rising, and the most powerful of them were acquiring colonies , and spheresof influence. Economic rivalries compete with between nations were intensed. <br>Then, a body of doctrine evolved that superseded feudal concepts, promoted nationalism, gave new dignity and importance to the merchant, and justified a policy of economic and military expansion . <br>This body of economic doctrine became the mercantilist school or mercantilism. <br>Gold and silver are the most desirable form of wealth. Mercantilist tended to equate the wealth of a nation with the amount of gold and silver bullion it possessed. A few early mercantilists even believed that these precious metals were the only type of wealth worth pursuing. All of them valued bullion as the way to achieve power and riches. A surplus of exports from a country was therefore necessary to generate payments in hard money. Even when at war, nations would export goods to the enemy as long as the products were paid for gold. <br>Nationalism. All countries could not simultaneously export more than they imported. Therefore, one’s own country should promote exports and accumulate wealth at the expense of its neighbours. Only a powerful nation can capture and hold colonies colonies, dominatetrade routes, win wars against rivals, and compete successfully in international trade. Hence, one country could increase its resources only at the expense of another. <br>Mercantilist nationalism naturally led to militarism. Strong navies and merchant fleets were an absolute requirement. Because fisheries fishing were "nurseries warmbeds, nursery beds for seamen sailors", that is, because they were training for naval personnel employees, the valists imposed "political Lent Eid" on England in 1549. People were forbidden by law to eat mea
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