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Originally Posted by KlenTelaris
Sounds like he is advocate of mercantilism
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Maybe. That might not be an entirely baseless accusation.
Quote:
Originally Posted by KlenTelaris
,which was abandoned in 19 century.
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Maybe not... at least not entirely.
http://en.wikipedia.org/wiki/Mercantilism
Quote:
Mercantilism is an economic doctrine based on the theory that a nation benefits by accumulating monetary reserves through a positive balance of trade, especially of finished goods. Mercantilism dominated Western European economic policy and discourse from the 16th to late-18th centuries.[1] Mercantilism was a cause of frequent European wars in that time and motivated colonial expansion. Mercantilist theory varied in sophistication from one writer to another and evolved over time. Favours for powerful interests were often defended with mercantilist reasoning.
High tariffs, especially on manufactured goods, are an almost universal feature of mercantilist policy. Other policies have included:
Building a network of overseas colonies;
Forbidding colonies to trade with other nations;
Monopolizing markets with staple ports;
Banning the export of gold and silver, even for payments;
Forbidding trade to be carried in foreign ships;
Export subsidies;
Promoting manufacturing with research or direct subsidies;
Limiting wages;
Maximizing the use of domestic resources;
Restricting domestic consumption with non-tariff barriers to trade.
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From the sounds of that description many aspects of mercantilism are alive and well.