Sunday, October 12, 2008
Prompt # 2
Mercantilism in this day and time would obviously never last. There is too much of a capitalist and "no-government" involvement influence and idea in the economy, especially America's. However, in the 16th century I believe it was a very progressive, intuitive, and well-thought-out idea. I think that a new system of trading and doing business was in order because of all of these new trade routes, and I also believe that since there were all of these countries coming in and out of other foreign countries government intervention seemed and probably was quite neccesary. the idea of this system was that traders should export more goods than they are bringing in or importing. I think that this, at the time, was a very good observation because perhaps the government wanted to be not only a country known for taking goods in from other countries, but also wanted be able to gain money from other countries and get on good terms with foreign countries. Tariffs put down by the government were supposed to encourage this idea and enforce it as well. the government wasn't supposed to be a "bully", but more of a protective force for their merchants. So in my opinion I believe that at the time it was revolutionary and useful, but eventually the econmic movement and activity changed causing a need for a change in the economic system; that's just the way it works.