Mercantilism and Capitalism
Two philosophies of economic activity dominated European nations between 1600 and 1900, Mercantilism and capitalism. Each philosophy incorporated assumptions as to the functioning of economic activity and pressured benefits to the Government and citizens.
1. compare and contrast Mercantilism and capitalism as economic philosophies, based upon the writings of Thomas Mun and Adam Smith, looking at such issues as participation in the market, generation of income for the state. and the importance of private property.
Discuss examples of the historic international impact of each of these systems, considering such issues as who benefited, who did not, who was injured or damaged, and why those damages happened. In your discussion, be sure to consider economic,social ,and political impacts and changes.
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