国际贸易理论与实务（英文版）Ch.2_Classical_trade_theory教材教学课件.pptVIP

CHAPTER 2 CLASSICAL TRADE THEORY The development of Mercantilist thought David Hume’s price-specie-flow mechanism The theory of absolute advantage The theory of comparative advantage §1 Mercantilism The school of economic thought that came into existence in Europe during the period from 1500 to 1750. The political economy of state building. 1. The development of mercantilist thought (1) Geographical explorations (in the late 15th century) Provided new opportunities for trade. Colonial systems of the European nation-states established. Wealth was needed to maintain the system. Colonialism went hand in hand with the evolving exchange of goods among the European countries themselves. Nation: cultural entity. State: political entity. (2) The collapse of feudal society and the rise of the merchant class Feudal society: A state of autarky, a society that did not trade. Merchants began meeting in the marketplace. Travelers began exchanging goods from faraway places at the waters edge. TRADE WAS ATTRACTIVE!  The following also contributed to the development of Mercantilist thought: Upsurge in population Impact of the Renaissance on culture Discovery of precious metals in the New World Changing religious views on profits and accumulation Rise of nation-states 2. The mercantilist economic system (1) National wealth (2) Economic activity: zero-sum game. (One countrys economic gain was at the expense of another) (3) Accumulation of wealth through trade. Favorable balance of trade would help to earn gold.  3. Economic policies pursued by the mercantilists (1) Controlled the use and exchange of precious metals. (2) Prohibited the export of precious metals by individuals, rulers let specie leave the country only out of necessity. (3) Smugglers o