Mercantilism as a set of economic ideas Most European economists between 1500 and 1750 are considered today as mercantilist. However, these authors did not see themselves as participants in a single economic ideology, but the term was coined by Victor Riquetti, Marquis de Mirabeau in 1763, and was popularized by Adam Smith in 1776. In fact, Adam Smith was the first person to formally organize many of the contributions of the mercantilist in his book The Wealth of Nations. The word comes from the writers Latin word mercari, which has the same meaning to the Castilian trade in the sense of conducting a business, and that comes from the root meaning merx merchandise. It James Urbaniak was initially used only by the critics of this theory, Thomas Jay Ryan such as Mirabeau and Smith, but was soon adopted by historians. Mercantilism itself can not be considered a unified theory of economics.In fact there was no mercantilist writers to submit a general outline of what would be an ideal economy, as Adam Smith would Henry Fool later to classical economics. Instead, the mercantilist writer tended to focus their attention on a specific area of the economy. It would be after the mercantilist period when scholars who came later integrate the various ideas on what you would call mercantilism, such as Eli F. Heckscher who sees in the writings of the time both a political power system, a system of regulation of economic activity, a protectionist system and a monetary system with the theory of the trade balance.However, some theorists reject completely the idea of a mercantilist theory, arguing that it gives “a false unity to disparate events.” The historian of economic thought Mark Blaug notes that mercantilism was rated over time as “bothersome baggage”, “fun of historiography” and “giant balloon theory.” To some extent, mercantilist doctrine itself made it impossible that there was a general economic theory. The mercantilist economic system viewed as a zero sum game, where the gain of one party involved the loss of another, or following Jean Bodin’s famous maxim “there is nothing that someone wins another does not lose” (The Six Books of the Republic).Therefore, any system of policies that benefit one group by definition would also do harm to another or others, and there was no possibility that the economy was used to maximize the common wealth, or the common good. It appears that the mercantilist writings were made to justify retrospectively a series of practices, rather than to assess its impact and determine how best to complete them. Mercantilism is therefore a doctrine or economic policy that appears in an interventional period and describes an economic credo that prevailed at the time of birth of capitalism, before the Industrial Revolution. The first mercantilist theories developed in the early sixteenth century were marked by the Bullion (English bullion: gold ingots).In this regard, Adam Smith wrote: The dual role of the Money, as an instrument of trade and as a measure of value, has to IMDB occur naturally popular idea that money makes the wealth or the wealth consist in the abundance of gold and silver … . It is argued in the same way with respect to a country. A rich country is one where money director is plentiful, and the easiest way to enrich its own, is amassing gold and silver … . Due to the growing success of these ideas, the different nations of Europe have been devoted, though without much success, to seek and accumulate gold and silver in every way possible. Spain and Portugal, holders of the principal mines that supply Europe with those metals, have banned its export threatening severe reprisals, or have undergone enormous fees. The same prohibition has been part of the politics of most nations of Europe.One finds even where you least expect, in some ancient records of the Scottish Parliament, prohibiting, under heavy penalties, carry gold and silver out of the realm. The same policy was launched in France and England Thomas Gresham, merchant and financier English during this period, substantial quantities of gold Parker Posey and silver flowed from the Spanish colonies of the New World to Europe. Bullionism for writers like Jean Bodin and Thomas Gresham, wealth and state power are measured by the amount of gold they have. Every nation must therefore increase its gold reserves at the expense of other nations to grow their power.