"This book analyzes the emergence of neomercantilist thought between the late eighteenth and early twentieth centuries, highlighting the global origins of this ideology, its diverse varieties, and the lasting legacies of the ideas of its pioneers on the politics of the world economy."

In 2005 the current account deficit attained 7½% of GDP, its worst position of the last 25 years, and in 2006 it might reach 8½%. Traditionally, Spain’s trade deficit has been partially offset by surpluses in other external balances, particularly service trade, as a result of large net...