In the earlier days of recorded history, nations traded to obtain more goods, especially those they couldn't produce themselves, which seems like a logical enough motive. But by the 17th century, this motive for trade gradually eroded. The desire for goods was replaced by the desire to accumulate gold instead. This seemingly irrational motive for international trade, which came to be called mercantilism, colors some nations' international economic policy to this day. Mercantilism flourished during the 16th and 17th centuries, especially in England, France, the Netherlands, Spain, and other West European countries. Mercantilist states felt that the primary objective of trading internationally was to export as much as possible while limiting imports and accumulating gold in return. They felt that gold (as supposed to goods) represented true wealth. By t....

Number Of Pages: 7

Number Of Words: 1655

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