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Thomas Mun
Sir Thomas Mun (17 June 157121 July 1641) was an English writer on economics and is often referred to as the last of the early mercantilists. Most notably, he is known for serving as the director of the East India Company. Due to his strong belief in the state and his prior experience as a merchant, Mun took on a prominent role during the economic depression which began in 1620. To defend the East India Company and to regain England's economic stability, Mun published ''A Discourse of Trade from England unto the East-Indies.'' Through mercantilist principles, Mun created a proposed set of "means to enrich a kingdom" which centred on ensuring that exports exceeded imports. In other words, Mun advocated for achieving a positive balance of trade which would cause England's wealth to steadily increase. Thomas Mun is also widely considered to be a sophisticated thinker and has become a hugely important part of the history of economic theory. Life and background Thomas Mun was b ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mercantilists
Mercantilism is an economic policy that is designed to maximize the exports and minimize the imports for an economy. It promotes imperialism, colonialism, tariffs and subsidies on traded goods to achieve that goal. The policy aims to reduce a possible current account deficit or reach a current account surplus, and it includes measures aimed at accumulating monetary reserves by a positive balance of trade, especially of finished goods. Historically, such policies frequently led to war and motivated colonial expansion. Mercantilist theory varies in sophistication from one writer to another and has evolved over time. It promotes government regulation of a nation's economy for the purpose of augmenting state power at the expense of rival national powers. High tariffs, especially on manufactured goods, were almost universally a feature of mercantilist policy.John J. McCusker, ''Mercantilism and the Economic History of the Early Modern Atlantic World'' (Cambridge UP, 2001) Befo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Thomas Wriothesley, 4th Earl Of Southampton
Thomas Wriothesley, 4th Earl of Southampton, KG ( ; 10 March 1607 – 16 May 1667), styled Lord Wriothesley before 1624, was an English statesman, a staunch supporter of King Charles II who after the Restoration of the Monarchy in 1660 rose to the position of Lord High Treasurer, which term began with the assumption of power by the Clarendon Ministry. He "was remarkable for his freedom from any taint of corruption and for his efforts in the interests of economy and financial order", a noble if not a completely objective view of his work as the keeper of the nation's finances. He died before the impeachment of Lord Clarendon, after which the Cabal Ministry took over government. Origins He was the only surviving son of Henry Wriothesley, 3rd Earl of Southampton (1573–1624) by his wife Elizabeth Vernon (1572–1655), a daughter of John Vernon (died 1592) of Hodnet, Shropshire. In 1545 King Henry VIII granted to his ancestor Thomas Wriothesley, 1st Earl of Southampton, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
17th-century English Male Writers
The 17th century lasted from January 1, 1601 ( MDCI), to December 31, 1700 ( MDCC). It falls into the early modern period of Europe and in that continent (whose impact on the world was increasing) was characterized by the Baroque cultural movement, the latter part of the Spanish Golden Age, the Dutch Golden Age, the French '' Grand Siècle'' dominated by Louis XIV, the Scientific Revolution, the world's first public company and megacorporation known as the Dutch East India Company, and according to some historians, the General Crisis. From the mid-17th century, European politics were increasingly dominated by the Kingdom of France of Louis XIV, where royal power was solidified domestically in the civil war of the Fronde. The semi-feudal territorial French nobility was weakened and subjugated to the power of an absolute monarchy through the reinvention of the Palace of Versailles from a hunting lodge to a gilded prison, in which a greatly expanded royal court could be more eas ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
17th-century English Economists
The 17th century lasted from January 1, 1601 ( MDCI), to December 31, 1700 ( MDCC). It falls into the early modern period of Europe and in that continent (whose impact on the world was increasing) was characterized by the Baroque cultural movement, the latter part of the Spanish Golden Age, the Dutch Golden Age, the French ''Grand Siècle'' dominated by Louis XIV, the Scientific Revolution, the world's first public company and megacorporation known as the Dutch East India Company, and according to some historians, the General Crisis. From the mid-17th century, European politics were increasingly dominated by the Kingdom of France of Louis XIV, where royal power was solidified domestically in the civil war of the Fronde. The semi-feudal territorial French nobility was weakened and subjugated to the power of an absolute monarchy through the reinvention of the Palace of Versailles from a hunting lodge to a gilded prison, in which a greatly expanded royal court could be more easily ke ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
1641 Deaths
Events January–March * January 4 – The stratovolcano Mount Parker in the Philippines) has a major eruption. * January 18 – Pau Claris proclaims the Catalan Republic. * February 16 – King Charles I of England gives his assent to the Triennial Act, reluctantly committing himself to parliamentary sessions of at least fifty days, every three years. * March 7 – King Charles I of England decrees that all Roman Catholic priests must leave England by April 7 or face being arrested and treated as traitors. * March 22 – The trial for high treason begins for Thomas Wentworth, 1st Earl of Strafford, director of England's Council of the North. * March 27 – **The Battle of Pressnitz begins between the Holy Roman Empire and Sweden. **The Siege of São Filipe begins in the Azores as the Portuguese Navy fights to drive the Spanish out. After almost 11 months, the Portuguese prevail on March 4, 1642. April–June * April 7 – The ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
1571 Births
Year 1571 ( MDLXXI) was a common year starting on Monday (link will display the full calendar) of the Julian calendar. Events January–June * January 11 – The Austrian nobility are granted freedom of religion. * January 23 – The Royal Exchange opens in London, England. * c. February 4– 9 – The Spanish Jesuit missionaries of the Ajacán Mission, established on the Virginia Peninsula of North America in 1570, are massacred by local Native Americans. * March 18 – The Order of the Knights of Saint John transfers the capital of Malta, from Birgu to Valletta. * May 24 – Moscow is burnt by the Crimean army, under Devlet I Giray. * June 3 – Following the Battle of Bangkusay Channel, the conquest of the Kingdom of Maynila is complete, Spanish Conquistador Miguel López de Legazpi makes Manila a city, and the capital of the Philippines. * June 25 – Queen Elizabeth's Grammar School, Horncastle, is founded in Lincol ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
History Of Economic Thought
History (derived ) is the systematic study and the documentation of the human activity. The time period of event before the invention of writing systems is considered prehistory. "History" is an umbrella term comprising past events as well as the memory, discovery, collection, organization, presentation, and interpretation of these events. Historians seek knowledge of the past using historical sources such as written documents, oral accounts, art and material artifacts, and ecological markers. History is not complete and still has debatable mysteries. History is also an academic discipline which uses narrative to describe, examine, question, and analyze past events, and investigate their patterns of cause and effect. Historians often debate which narrative best explains an event, as well as the significance of different causes and effects. Historians also debate the nature of history as an end in itself, as well as its usefulness to give perspective on the problems of the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bullionism
Bullionism is an economic theory that defines wealth by the amount of precious metals owned. Bullionism is an early or primitive form of mercantilism.{{Citation needed, date=October 2018 It was derived, during the 16th century, from the observation that the Kingdom of England, because of its large trade surplus, possessed large amounts of gold and silver—bullion—despite the fact that there was not any mining of precious metals in England. Examples of bullionists Thomas Milles (1550–1627) and others recommended that England increase exports to create a trade surplus, convert the surplus into precious metals, and hinder the drain of money and precious metal to other countries. England did restrict exportation of money or precious metals around 1600, but Milles wanted to resume using staple ports (ports where incoming foreign merchants were required to offer their goods for sale before anywhere else) to force merchants from abroad to use their assets to buy English goods and pre ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Balance Of Trade
The balance of trade, commercial balance, or net exports (sometimes symbolized as NX), is the difference between the monetary value of a nation's exports and imports over a certain time period. Sometimes a distinction is made between a balance of trade for goods versus one for services. The balance of trade measures a flow of exports and imports over a given period of time. The notion of the balance of trade does not mean that exports and imports are "in balance" with each other. If a country exports a greater value than it imports, it has a trade surplus or positive trade balance, and conversely, if a country imports a greater value than it exports, it has a trade deficit or negative trade balance. As of 2016, about 60 out of 200 countries have a trade surplus. The notion that bilateral trade deficits are bad in and of themselves is overwhelmingly rejected by trade experts and economists. Explanation The balance of trade forms part of the current account, which include ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mercantilism
Mercantilism is an economic policy that is designed to maximize the exports and minimize the imports for an economy. It promotes imperialism, colonialism, tariffs and subsidies on traded goods to achieve that goal. The policy aims to reduce a possible current account deficit or reach a current account surplus, and it includes measures aimed at accumulating monetary reserves by a positive balance of trade, especially of finished goods. Historically, such policies frequently led to war and motivated colonial expansion. Mercantilist theory varies in sophistication from one writer to another and has evolved over time. It promotes government regulation of a nation's economy for the purpose of augmenting state power at the expense of rival national powers. High tariffs, especially on manufactured goods, were almost universally a feature of mercantilist policy.John J. McCusker, ''Mercantilism and the Economic History of the Early Modern Atlantic World'' (Cambridge UP, 2001) Bef ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Edward Misselden
Edward Misselden (fl. 1608–1654) was an English merchant, and leading member of the writers in the Mercantilist group of economic thought. He argued that international movements of money and fluctuations in the exchange rate depended upon the international trade flows and not the manipulations of the bankers, which was the popular view at the time. He suggested that trading returns should be established for purposes of statistical analysis, so that the state could regulate trade with a view to obtaining export surpluses. Life He was deputy-governor of the Merchant Adventurers' Company at Delft from 1623 until 1633. On his departure from England (October 1623) the East India Company invited him to act as one of their commissioners at Amsterdam to negotiate a private treaty with the Dutch; he had probably been employed by the Merchant Adventurers' Company in 1616 in a similar capacity. His fellow-commissioner was Robert Barlow, East India merchant. The negotiations, however, were ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Gerard De Malynes
Gerard de Malynes (fl. 1585–1627) was an independent merchant in foreign trade, an English commissioner in the Spanish Netherlands, a government advisor on trade matters, assay master of the mint, and commissioner of mint affairs. His dates of birth and death are unknown. Life Malynes stated that his ancestors were from Lancashire. His father, a mint-master, may have emigrated about 1552 to Antwerp, where Gerard was born, and returned to England at the time of the restoration of the currency (1561), when Elizabeth obtained the assistance of skilled workmen from Flanders. Malynes showed how an outflow of precious metals could lead to a fall in prices for goods at home and a rise in prices abroad. This was an important clarification of the economic thought of the time. He suggested that higher import tariffs should be levied and exports of bullion prohibited, because he believed that a country's growth was related to the accumulation of precious metals.'The Penguin Dictionary of Ec ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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