POLI 243 Study Guide - Midterm Guide: Win-Win Game, Dirigisme, Ultraist Movement

• School: McGill University
• Department: Political Science
• Course: POLI 243
• Professor: Anthony Imbrogno

Document Summary

Economics theory developed in response to centuries of mercantilism . Colonies required to trade first with mother country. Today, china"s economic policies most closely resemble all of these tenets. Concern about trade balance, economic strategy, and state involvement continue. No longer a priority for countries but still exists. Looking at us and china graph, if you believe in mercantilism, you should be panicking. Today, states are intervening and heavily involved in directing in marketing structure to compete. Each human has natural right to life, liberty and property. Mercantilism - government intervening my properties - its violating our right. Everyone should be allowed to pursue their true interest. Look at the society scale, you could see maximum wealth achieved. Bentham influenced government policies, shifting focus from wealth maximization to focus on the general welfare - happiness. To allow free market is there, but trying to correct what is not perfect. The way to keep trading balance based on mercantilism.