Mercantilism | An in-depth history of European imperial economics
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- čas přidán 22. 07. 2024
- What is Mercantilism and why was it so prevalent in Early modern Europe?
In this video we’re going to do a deep dive into the history of Mercantilism, starting from its historical background in the middle ages, and the renaissance. We will also cover how mercantilists economics viewed things like trade, and domestic economics, and we will later finish the video by covering the underlying ideological streams that Mercantilism is associated with as well as the fall of Mercantilism.
If you liked this video, feel free to check out my channel at / @quillinkhistory9539
Music credits: Brandenburg No.4 and Lost frontier by Kevin Macleod.
Note: I try to use copyright-free images and stock footage at all times. However, if I have used any of your artwork or video content then please don't hesitate to contact me and I’ll be more than happy to give the appropriate credit. Mail: inkhistorycontact@gmail.com
Sources(Note: Most of them only exist in Swedish).
Mercantilist Economics(Lars Magnusson .edt/ 1993).
Merkantilism(Lars Magnusson. 1999). Only exists in Swedish.
Svensk idéhistoria Del 1(Tore Frängsmyr/2004).
Sökander efter upplysningen(Tore Frängsmyr/2006).
5 Fast Facts About the East India Company - www.britannica.com/story/5-fa...
Mercantilism, Laura LaHaye - www.econlib.org/library/Enc/M...
Chapters
00:00 Intro
01:15 Historical background
03:42 Foreign trade
11:05 Domestic economics
18:43 Ideological undertones
23:05 The end of mercantilism
To learn about the History of Absolute Monarchy: czcams.com/video/n69bUx33o2s/video.html
To learn about the history of Medieval Crime and Punishment: czcams.com/video/jh5PDkWQhc0/video.html
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Welcome back! and what a vid to come back with! love the upgrades with the graphics and sound effects
Thanks man! I figured that longer videos that are more in dept is better both for my audience as well as for the algoritm.
@@quillinkhistory9539 definitely agree and I’m all for in depth content
Always love to watch videos about the colonial era and the start of the industrial revolution. This one was really well researched and organized
Happy to hear that! I was quite afraid that the information would not come across when I was about to upload it.
fascinating work! Really well done guys, can't wait for more.
Wow, thank you for this information-dense explanation. Great content!
Very easy to follow, well produced and full of information. Your channel is excellent!
Love your content man , i honestly think you are the most underrated history CZcamsr out there , i really like your videos
Many thanks friend :)
More economic videos like this needed
great work. thanks alot.
Brilliant video.
Could you do a few more on economic history?
Excellent review, it would be interesting for your assessment of the proposed the “ Great Reset “ thanks
Thankyou! What is the "Great Reset"?
Thanks, I've learnt a lot. from South Africa
This was an excellent video. Could you talk about how mercantilism led to nations using privateers against each other?
1:27
I knew east indies co was powerfull, but 200k is way above what I would have guessed.
First and only 17 minutes late. Thank You for covering this, reading up on the terrible conditions of the poor in Louis XIV's France was bad enough so I wanted to know why they did it. Edit: Why are all the sources Swedish, okay most, and how did the end of mercantilism relate to the start of capitalism with François Quesnay and the Physiocrats for example.
Happy to help, its quite horrifying to learn how common people were viewed and treated in early modern society.
Regarding your question of the sources. I know its problematic that I mainly use sources that are written in Swedish since it makes so that many people are unable to fact check the literature. The reason that I used mostly Swedish literature is because that was the literature that was available and straight forward enough for me to use. I did try to find English literature on the subject but the once I was able to get in my university library was to dense and convoluted to be able to condense into a 30 minute video. I do think, however, that the Swedish literature that I am using have a high enough standard to use. Most of the books are written (or edited) by the Swedish intellectual historian Lars Magnusson. He is one of the leading scholars on economic intellectual history in Sweden and he also writes works on economic though in larger western perspective.
Regarding your second question about how the end of mercantilism related to the start of capitalism, I'm afraid that I'm not well read enough on the Physiocrats. What I do know, however, is that in the mid to late eighteenth century did several economic thinkers point out shortcomings in mercantilist economics. This critique was strengthen by the fact that mercantilists policy in several countries had failed to produce the results that had been promised, this was very much the case in Sweden, which led political oppositions to adopt more economic-liberal leaning ideas as a way to attack the ruling factions. When these two processes gained steam by the end of the eighteenth century, together with the growth of liberal political ideas like universal rights and representative governments, mercantile economics gradually lost ground and credibility. Let me know if that answeres your question.
@@quillinkhistory9539 Well that sounds good to me. Oh are you able to tell me what States adopted this model? Was it all of them or France, Britain, Netherlands and Sweden?
@@quillinkhistory9539 A useful elaboration you could make is the response of the poor in revolts or habits and even any social help they got, I know the Vincentians helped out. Yeah it was a stark contrast to the Medieval era, not that they were treated particularly well then but they tended to be well fed. I read a paper on the Paris Hosptial, well two, which seems to elucidate a change in thinking of poverty as a state of life to be celebrated who are owed aid from the rich, to a disease or even a crime. Indeed the Wars and definitely the wage problem was highlighted, Paris was popular as grain was distributed. In fact poverty got so bad they gave up punishing the poor. I wonder when they realised that.
"Many mercantilists were well aware of the dangers of hoarding capital"
Seems like todays capitalists should take a lesson from thse mercantilists...
"The wellbeing of workers (...) was secondary for most mercantile thinkers. And some even went so far as to claim that poverty of the working class was a requirement for a country to be powerful". - Yeah. Let's take lessons from them.
@@paulrdrs Take a lesson, not all.
@@paulrdrs Capitalism started of with similar results, we had to suffer through a stint of Socialism before social programs and laws were introduced so not perfect on both sides but mostly mercantilist.
Im fairly certain the capitalists your speaking of have aspirations akin to EITC and other Mercantile organisations.
TFW you find out the Mercantilists were right about free trade.
But did too much restriction on trade with other countries lead to some using privateers to cut out the middleman?
Mercantilism is so alive in South America
When Borat narrates history documentaries 🤷🏻😂😂😂
This video has become a inside joke for me and my friends