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SLAVERY.....................................................................................................................
FEDERALISM...............................................................................................................
MERCANTILIST SCHOOL.................................................................................................
SLAVERY
Types of slavery
Chattel Slavery
- Form where people are treated as personal property of the
owner and a bought and sold like commodities
Human trafficking
century.
country
Causes are:
Slave trade
The resistance against and the abolition of slave trade began in the
19th century. The personality most remembered for fighting tirelessly
for abolition of slave trade is Sir. William Wilferforce. The factors that
influenced the fight against slavery were: the church which regarded
the institution of slave trade as immoral and evil, intellectuals like
Adam Smith who advocated for free labour as being better than
slave labour, and also since the system was considered as retarding
technological advancement.
FEDERALISM
Meaning of Federation
Why federation?
For easy provision of public goods; the nations must work out and
agree on decision making process which allows collective choices to
be taken and institutional arrangements be designed to guarantee
the operation of the market.
During the 19th Century, the state becomes the only institutional
framework where collective public goods are provided. This stage of
history concides with the formation of an autonomous status for
social sciences, that methodological nationalism is born and grows
stronger.
It helped both the consolidation of the nation-state, providing
intellectual legitimacy to its political-cultural consolidation of the
nation-state, providing intellectual legitimacy to its political-cultural
consolidation and to the provision of nation-collective public goods.
This was a step in the evolution of the production of collective public
goods, in the satisfaction of shared human needs.
MERCANTILIST SCHOOL
Mercantilism emerged about 1500 1776/1800. It is a term
associated with trade or commercial activities of an economy. The
aim was to organize the internal economic affairs of the country in
such a way that it might help import as much gold and silver as
possible. The spirit of nationalism led to the policy of mercantilism
(commerce).
Intellectual movement
Intellectuals/writers like Serra 1613 (Italian) and Thomas Mun
led a strong campaign that gains from commerce and
international trade were principal factors for promoting
national power.
Religious movement
At the time of the growth of mercantilism, the reformists and
the Protestants were agitating for the reform of the Roman
Catholic Church. Both the movements of Reformation and
Protestantism laid great importance on individualism, personal
freedom etc and strongly challenged the traditional structure,
communal outlook and customary sequence which dominated
the declining feudal life.
Maritime discoveries
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National policy
A system of power
National unification
- Mercantilism organized the merchants led to the
development of merchant colonies where traders and
businessmen had their centres. Their contact with one
another increased and they developed a strong bond of
unity.
- The unity led to the formation of merchant association in
trading centres and abroad.
A system of production
Mercantilists believed in buying cheap and selling clear in the
interest of society. They
followed :
Staple policy in intermediary trade and provision policy in
reference to supply of food grains and other goods and also
Protection policy to protect trade (Protect manufactured
products and safeguard employment opportunities).
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Balance of trade.
- They advocated for foreign trade as a tool for increasing a nations
wealth and treasure.
- That there should be favorable balance of trade and this could be
attained through state commercial regulations or intervention the
policy of discrimination, regulation and protection in trade was
followed.
Interest rate
Industrial regulation
- That to encourage exports and reduce imports, there should be
strict govern regulations like imports duties and export bounties.
Natural Resources
- That there should be maximum use and exploitation of natural
resources like land to increase good supply, development of
fisheries so as to encourage navigation and foreign trade, full
protection of agriculture so as to reduce importation of food, and
the establishment of colonies to provide supplies of raw materials
for home industry.
SOME I M P O R TA N T
CONTRIBUTORS TO
MERCANTILIST IDEAS.
Thomas Mun (1571 1641)
- He was an English and worked for his country the in East India
Company.
- He wrote a book on mercantilist principles called England Treasure
by Foreign Trade
which was published in 1664.
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His contributions were:
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He was an Italian.
His works includes the pamphlet A brief treatise on the causes
which cant make gold and silver abound in kingdoms where
there are no mines which contained his mercantilist views.
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5. Greshams Law
~ An idea coined by Sir Thomas Gresham (1519 1579) - that it not
possible to maintain bimetallic currently within a fixed mint rates
which must necessarily diverge from the relative world price of gold
and silver but in terms of the effects of debasement. In this
context, the law is summarized by the phrase bad money drives
out good. Debased coinage which still has the same legal value as
undebased coinage, will remain
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Bodins Achievements
Failure
Criticism of Mercantilism
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REFERENCES
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