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Lecture 7

lecture 7

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McGill University
Political Science
POLI 354
Mark Brawley

Lecture 7 Wednesday, September 26 , 2012 POLI 354 Mercantilism and Dutch Exceptionalism Jacob Viner on Mercantilism  Try to describe what writers set as policy recommendations over past centuries  4 points: 1. wealth is essential for gaining and holding power- hiring mercenaries with gold and silver 2. power is essential for gaining and holding wealth- 3. both wealth and power are proper and ultimate goals of national policy 4. there is harmony between these goals  this makes mercantilism different form realism because sa structural realist is going to say that what matters in IR is power and its most important than wealth  power is one actor vs another; about relationship; relative  wealth is based on what you have and not the others; absolute Typical Mercantilism Policies 1. prohibit the export of precious metals- the Dutch are the ones not following these rules so they trade silver with China 2. limit imports as much as possible- tariffs and protectionist barriers 3. limit the export of raw materials- so others don’t convert it 4. give privileges (monopolies, subsidies, etc) to manufacturers- 5. prevent the export of technology- you have the competitive edge and you must keep it 6. introduce Navigation Acts- use of ships  all about the pursuit of gold and silver- leading to power Dutch Exceptionalism  middle distance trade and the fluit  dutch economy- trade within Europe  fluit- money maker  trade in cheaper things: much more volume, very important for Dutch economy; investment done wasn’t that high  position as entrepot- key for success  hold in wearhouse until price goes up and you sell it  Bank of Amsterdam for payments- 
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