320test3
Terms
undefined, object
copy deck
- spot market
- the market that literally exists today
- David Hume- Price Specie Flow Mechanism
- showed pure mercantilism is impossible- country A gets gold, Pa increase, Po decrease, people buy from other countries, gold goes away
- mercantilist thinkers
- people will outthink regulations, might as well not regulate them
- labor utility theory of poverty
- working wages should be kept low
- neomercantilism
- hoarding jobs
- slave gatherers
- capture the slaves- mostly africans
- exporters
- africans- bought slaves from gatherers
- shipper
- bought slaves from exporter
- importer
- buys slaves from shipper
- retailer
- buys slaves from importer or shipper
- plantation owner
- buys from retailer
- Wealth of Nations
- Adam Smith- 1776
- 3 things Smith said should be regulated
-
defense
justice
maintenance of certain public works - suigenerous
- totally brand new- Smith's growth theory
- stationary state
- according to Smith, pop'n and pie would stabalize