The First Mercantile Post

 If we're being honest, you don't know what this is

And I had no idea of what Mercantilism was six months ago but I am a true mercantilist through and through. I have no degree or any experience when it comes to blog posts but I'll give it my best shot.

What is it?

Mercantilism is basically just capitalism 2.0. Well, it went out of style by the end of the 17th century so maybe not, but I do plan to revive it as best as I can. Mercantilist societies have extremely right wing economic policies and are socially and culturally right wing too. They strive to create as many exports as possible and minimise their imports if not completely eliminate imports. Mercantilism emerged from feudalism and is the forerunner of capitalism, although mercantilism and capitalism have a few different views when it comes to precious metals and the goal of wealth, but to know more about the differences, we need to know the economic policies.

The 'official' flag of Mercantilism

Economic Theories and my View on it

From the ever so useful Wikipedia "The Austrian lawyer and scholar Philipp Wilhelm von Hornick, one of the pioneers of Cameralism, detailed a nine-point program of what he deemed effective national economy in his Austria Over All, If She Only Will of 1684, which comprehensively sums up the tenets of mercantilism:

• That every little bit of a country's soil be utilized for agriculture, mining or manufacturing.
• That all raw materials found in a country be used in domestic manufacture, since finished goods have a higher value than raw materials.
• That a large, working population be encouraged.
• That all exports of gold and silver be prohibited and all domestic money be kept in circulation.
• That all imports of foreign goods be discouraged as much as possible.
• That where certain imports are indispensable they be obtained at first hand, in exchange for other domestic goods instead of gold and silver.
• That as much as possible, imports be confined to raw materials that can be finished [in the home country].
• That opportunities be constantly sought for selling a country's surplus manufactures to foreigners, so far as necessary, for gold and silver.
• That no importation be allowed if such goods are sufficiently and suitably supplied at home."

These are the 'main tenets' of mercantilism, although I think we could tweak things a little, lets start from the beginning.

"That every little bit of a country's soil be utilized for agriculture, mining or manufacturing." Some might argue that mercantilism is not eco-friendly or any similar to eco-conservativism or any other eco political ideologies but this can be simply untrue. This principal neglects other industries other than manufacturing goods, such as the tourism industry. National parks, waterfalls, forests, plateaus and some other landmarks (depending on 'beauty'/supply) can be used for tourism instead of manufacturing if it would increase national wealth. If the tourism industry is not in high demand for the country mercantilism is dominant in then turning that land into materials to take advantage of the landscape. Obviously, if the country is paleoconservative or another radical political ideology that secludes itself from the world, then this idea wouldn't work and then should be either used or kept to increase either internal tourism or to be used to increase national happiness. (Also, parks and forests are just nice, maybe we don't have to put concrete all over them.)

So far, that is the only thing I would change about these disciplines of mercantilism. My final point in this blog is a small sliver of the history of mercantilism. The official 'manifesto' or book on mercantilism is called "England's Treasure by Foreign Trade or the Balance of Foreign Trade is the Rule of Our Treasure" by Thomas Mun, written in 1664. I have yet to read it but I have bought the book online, when I do I will be sure to write another article on it.

Anyway, I hope you have found some enjoyment in reading this article and have found it informative so far, please let me know what to write on next, possibly something that isn't mercantilism? I hope you all have a good day and see you soon!

Sources, Credits and Links

Wikipedia Contributors. (2021, October 24). Mercantilism. Retrieved October 26, 2021, from Wikipedia website: https://en.wikipedia.org/wiki/Mercantilism

‌Polcompball Wiki. (2021, October 20). Mercantilism. Retrieved October 26, 2021, from Polcompball Wiki website: https://polcompball.miraheze.org/wiki/Mercantilism

‌Richey, T. (2014). Mercantilism: The Economics of Absolutism [YouTube Video]. Retrieved from https://www.youtube.com/watch?v=ZlOdf_o7yu8

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