This paper develops a simple mercantilism model for a small open economy and examines the real effects of macroeconomic …

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 the dominant current of economic thinking and practice during the 16th, 17th, and 18th centuries till … the emergence of physiocracy. The scientific discoveries in Europe helped the development of mercantilism in many ways … development of mercantilism marked the shift of paradigm. It ignored ethical considerations and destroyed moral values that had …