The emergence of mercantilism as a reaction against Muslim power: some of the evidences from history

Abdul Azim Islahi

MPRA Paper from University Library of Munich, Germany

Abstract: In the early modern period, changing attitude of Medieval Europe towards trade as an outcome of encounter with Muslim scholars and rulers and consequently emergence of 'mercantilism' was a turning point in the history of economic thought. The paper documents evidences which prove that initially mercantilism was a reaction against Muslim powers. In the rise of mercantilism, discovery of the New World is considered a significant factor. The main objective before explorers and pioneers of mercantilism was to strengthen their governments through the acquisition of precious metal to regain the Holy Places, defeat the enemy, check the expanding power of Muslim rivals and spread Christianity. However, later it ended up in an effective economic movement.

Keywords: Mercantilism; History of Economic Thought; Medieval Economic History. (search for similar items in EconPapers)
JEL-codes: B10 B15 N10 N15 (search for similar items in EconPapers)
Date: 2006-10-07, Revised 2007-02-18
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (15)

Published in Review of Islamic Economics 1.12(2008): pp. 137-150

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