Adam Smith's theory of money played a key role in his development of one of the conclusions for which he is most famous … today: the superiority of the system of natural liberty to mercantilism. This essay examines the part played by money in … this argument, and specifically Smith's theory of money's origins and evolution and its relevance to his theory of natural …

We analyze the growth and welfare effects of globalization in a dynamic Schumpeterian North-South product-cycle model … bargaining above a given minimum wage promotes mercantilist behavior of developed countries. -- globalization : product cycle … ; endogenous growth ; labor unions ; minimum wage ; mercantilism …