Authors

Calvin Golliver

Senior Project Advisor

Brandon Dupont

Document Type

Project

Publication Date

Spring 2022

Keywords

Mercantilism, Trade, Protectionism

Abstract

Mercantilism was an effective system for expanding state power and prosperity in early Modern Europe when three specific conditions existed: weak states, expensive trade, and zero-sum competition. These conditions combined to create a prisoner’s dilemma where all nations engaging in mercantilism was both individually rational and mutually destructive. The significant changes in these three conditions in the late 18th to early 19th century removed the prisoner’s dilemma, making it both individually and mutually rational to engage in a general policy of free trade.

Department

Economics

Subjects - Topical (LCSH)

Mercantile system--Europe--History; Europe--Economic conditions; Civilization, Modern

Geographic Coverage

Europe

Genre/Form

essays

Type

Text

Rights

Copying of this document in whole or in part is allowable only for scholarly purposes. It is understood, however, that any copying or publication of this document for commercial purposes, or for financial gain, shall not be allowed without the author’s written permission.

Language

English

Format

application/pdf

Included in

Economics Commons

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