[OPE] China and Germany - The New Mercantilists

  Here is a very interesting article by two prominent Indian economists.
The path pursued by the German federal state in the EU is in this light
quite short-sighted. But that would not be the first time in the history
of ruling classes.

    The New Mercantilists
    C.P. Chandrasekhar and Jayati Ghosh

    For several centuries - between the 15th and the early 19th
    centuries - mercantilist theories dominated the attitude to trade in
    Europe. This was the belief that an economy that had positive net
    exports (through exports being greater than imports) would be
    wealthier because it would lead to an inflow of bullion, or assets,
    and thereby increase its economic strength. This approach led to
    economic policies designed to increase exports and suppress imports,
    trade wars, and even the colonial wars that were crucial to ensuring
    markets for the various European powers.
    <http://networkideas.org/news/sep2010/news07_Mercantilists.htm>

//Dave Z
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Received on Fri Sep 24 06:56:39 2010