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Title: Mercantilism

Essay Details

Subject: History
Author: Doris M
Date: December 22, 2012
Level: University
Grade: B
Length: 2 / 510
No of views: 0
Essay rating: good 0, average 0, bad 0 (total score: 0)

Essay text:

Mercantilism was applied in European countries. Countries that applied this are especially England, France, Holland, Italy, Spain and Germany. Import-substitution industrialization (ISI) is an economic model. This model was applied after the Second World War until the 1970’s. It was applied by Latin American countries like Ecuador, Dominican Republic, and Peru; by Middle Eastern countries like Iran, Egypt; by East Asian countries like South Korea, Philippines and by African countries like Kenya, Zimbabwe...

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In this era, warfare was common and states need money to have a strong army and navy. Money could come with taxes from domestic merchants. So, merchants were supported by governments. In contrast to mercantilism, ISI model tries to create a national bourgeoisie. The aim is to reduce the dependence to foreign countries and create a national industry...

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