Body of economics thought popular during the mid 16th and late 17th centuries. It held that money waswealth, accumulation of gold and silver was the key to prosperity, and one nation's gain was another's loss. Supported by economists such as Gerard de Malynes (1586-1641), Edward Misselden (1608-54), and Sir Thomas Mun (1571-1641) in the UK, Jean Baptiste Colbert (1619-83) in France ,and ... Read more
The philosophy of mercantilism in centuries past was a problem for foreign policy, and frequently caused stress between nations. The countries who held this belief close to their heart frequently were at conflict with their neighbors.