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Essay / Research Paper Abstract
4 pages in length. While a certain percentage of people would agree that a mercantilist position makes sense in today's world, others would staunchly argue how this antiquated perspective only perpetuates oppressive control over free trade. According to Paul Rich, Titular Professor of International Relations and History, University of the Americas-Puebla, Mexico, and Fellow at The Hoover Institution on War, Revolution and Peace, Stanford University, the concept of mercantilism runs in direct opposition to the more preferred contemporary stance of true, free marketer. Bibliography lists 3 sources.
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4 pages (~225 words per page)
File: LM1_TLCMercant.rtf
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Unformatted sample text from the term paper:
free trade. According to Paul Rich, Titular Professor of International Relations and History, University of the Americas-Puebla, Mexico, and Fellow at The Hoover Institution on War, Revolution and Peace,
Stanford University, the concept of mercantilism runs in direct opposition to the more preferred contemporary stance of true, free marketer. Mercantilism, he claims, is: "like an unwelcome suitors
embrace, because it presupposes the value of paternal guidance and patriarchal direction from public administrators. Its instruments in the past were monopolies and chartered companies, official sponsorship and control.
Today they are statutes and tax codes and bad faith in trade agreements" (Rich, no date). First introduced in the sixteenth and seventeenth centuries, the notion of mercantilism
never meant to benefit the majority but rather to subsidize those merchants who wanted to endorse their own welfare. As such, the perspective took shape by focusing more positively
upon boosting exports while at the same time limiting imports, an economic equation that was presented as being favorable by virtue of establishing a greater trade surplus for a wealthier
country (Morris, 2003). To better determine whether or not a mercantilist position makes sense in todays world, the student will want to examine
the policies of John Maynard Keynes (1997), who states that "mercantilism is a continually developing doctrine of the role of the national state in economic and social affairs, and
the term neo-mercantilism is merely a means of distinguishing between the absolutist or oligarchical form and that of a more democratic society" (p. PG). Keynesian doctrine has been accused
of causing inflation and large government bureaucracies, while a basic income policy has been touted as being more readily able to redistribute income directly to the poor without causing inflation
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