Mercantilism & Physiocracy

Описание: Before Laissez-faire Capitalism took hold, the first economic theory adopted by European governments was Mercantilism (with Physiocracy its 18th century rival). This video explains the basics of Mercantilism, the what, why, who and when, and how it tied in to imports and exports, the Balance of Trade, ideas of National Wealth, Colonialism, the Law of Supply and Demand, and Merchant Marines.

Chapters
00:00 Introduction
01:28 Mercantilism and National Wealth
02:13 Economic Growth
02:40 Imports, Exports, and Balance of Trade
03:35 Mercantilism, Colonialism, and Shipping
04:21 Physiocracy and National Wealth
04:51 Physiocracy, Trade and Manufacturing
05:40 Private Property, Individualism and the Market
06:06 Physiocracy and the Law of Supply & Demand
06:50 Conclusion
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🎼 Music in this video: ⤵️
🎹 Background Music: WAGNER Overture to "Tannhäuser" - "The President's Own" U.S. Marine Band,    • WAGNER Overture to "Tannhäuser" - "The Pre...  
🎺Introduction Music: It's Been A Long Long Time (Kiss Me Once) Trumpet Solo By Redsal    • It's Been A Long Long Time (Kiss Me Once) ...  
🎸 End Title Music: We'll meet again (without choir) (karaoke) Vera Lynn    • Видео  
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