Jump to ContentJump to Main Navigation
Economics in PerspectiveA Critical History$
Users without a subscription are not able to see the full content.

John Kenneth Galbraith

Print publication date: 2017

Print ISBN-13: 9780691171647

Published to Princeton Scholarship Online: May 2018

DOI: 10.23943/princeton/9780691171647.001.0001

Show Summary Details
Page of

PRINTED FROM PRINCETON SCHOLARSHIP ONLINE (www.princeton.universitypressscholarship.com). (c) Copyright Princeton University Press, 2021. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in PRSO for personal use.date: 16 September 2021

The Merchants and the State

The Merchants and the State

Chapter:
(p.35) Chapter 4 The Merchants and the State
Source:
Economics in Perspective
Author(s):

John Kenneth Galbraith

Publisher:
Princeton University Press
DOI:10.23943/princeton/9780691171647.003.0004

This chapter focuses on the era of the merchants, the time of what is variously called merchant capitalism or mercantilism, a new and expanding world in which markets—and money—were strongly emergent. The mercantilist era lasted for 300 years, from about the middle of the fifteenth century to the middle of the eighteenth. The chapter considers various developments that were reflected in the economic attitudes and policies in the age of the merchants, including the proliferation of trade, the rise of the merchant class, the voyages of discovery to America and the Far East, and the appearance and consolidation of the authority of the modern state. It also discusses the close association between the merchant interest and the national state. Finally, it examines policies such as state intervention on behalf of industry, tariff protection, a policy on the balance of payments, and the emergence of the great modern corporation.

Keywords:   merchants, merchant capitalism, mercantilism, markets, trade, voyages of discovery, national state, tariff protection, balance of payments

Princeton Scholarship Online requires a subscription or purchase to access the full text of books within the service. Public users can however freely search the site and view the abstracts and keywords for each book and chapter.

Please, subscribe or login to access full text content.

If you think you should have access to this title, please contact your librarian.

To troubleshoot, please check our FAQs , and if you can't find the answer there, please contact us.