view metadata citation and similar papers at core ac uk brought to you by core 13 mercantilism an interpretation lars magnusson 1 from adam smith onwards the view of the ...
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...View metadata citation and similar papers at core ac uk brought to you by mercantilism an interpretation lars magnusson from adam smith onwards the of mercantile system or simply as a theory practice state dirigism protectionism in order support special interest has been commonplace its theoretical was according same positive balance trade this smithian th invention developed carried further century classical political economy france auguste blanqui britain j r mcculloch most influential creating image s richard jones argued that had seen emergence protective which built on almost romantic value our ancestors set upon possessions precious metals hence based king midas folly could be describes mere fallacy certainly already hume others before him used simple specie flow argument correct mistake net inflow bullion must mean relative rise prices through export import mechanism will tend itself his followers were only happy draw conclusion for protection against free intellectual ever sinc...