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What was that economic theory that most of the colonial empires were run on, where the prime directive was that more gold needed to be flowing into the country
by macrael 15y ago
What was that economic theory that most of the colonial empires were run on, where the prime directive was that more gold needed to be flowing into the country than flowing out? It was later abandoned, but I don't recall exactly why. That might be an interesting parallel to your observations.
- dctoedt 15y ago> What was that economic theory that most of the colonial empires were run on, where the prime directive was that more gold needed to be flowing into the country than flowing out? You may be thinking of mercantilism: "Mercantilism is the economic doctrine that says government control of foreign trade is of paramount importance for ensuring the prosperity and security of a state. In particular, it demands a positive balance of trade. ...It also was a motive for colonial expansion." [1] [1] http://en.wikipedia.org/wiki/Mercantilism http://en.wikipedia.org/wiki/Mercantilism (emphasis added).