The mercantilist way

David Reisman ()

Chapter 2 in Mercantilism, 2025, pp 3-25 from Edward Elgar Publishing

Abstract: This chapter, following authorities like Heckscher, Judges and Magnusson, shows that there was no unified school, leader or text, but salient similarities nonetheless between the leading thinkers. It asks if any had an articulated system of ideas or if they preferred to concentrate on single issues such as the future of the East India Company, the usury laws, the American colonies, total demand or the use of money substitutes. The chapter shows that most mercantilists valued empirical evidence in preference to a priori deduction, but that the facts on trade, population or industry were not normally available. The authors had an organic or holistic view of the nation which underscored their emphasis on power politics and state intervention. It meant they had difficulty in factoring down, anticipating the liberals, to the individual decision-maker. In this they resembled the nineteenth-century historical school.

Keywords: Definition of mercantilism; Nation-building; Empiricism; Organicism and intervention; Historical school (search for similar items in EconPapers)
Date: 2025
ISBN: 9781035347650
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