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Response to Turborama (Reply #40)

Tue Oct 2, 2012, 07:49 AM

43. No, the theory hasn't existed for millennia

the form hasn't existed for millennia.

The dominant economic theory was Mercantilism.

Mercantilism is the economic doctrine that government control of foreign trade is of paramount importance for ensuring the prosperity and military security of the state. In particular, it demands a positive balance of trade. Mercantilism dominated Western European economic policy and discourse from the 16th to late-18th centuries.


Which is opposed to capitalism, which says the government should stay out.

Before that was feudalism, which is an economic and political theory in which only the rich are the aristocrats.

You really should read up on these things.

PS. just because you have a steam engine doesn't mean you have a internal combustion engine, though the two use some of the same parts.

Just because there is an exchange of printed money doesn't mean it's capitalism.

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