For more than 300 years, almost every ruler and political thinker was a mercantilist. Eventually, economists including Adam Smith, in his ground-breaking work of 1776 The Wealth of Nations, declared that mercantilism was a flawed concept and it became discredited. However, a mercantilist economic approach can still be found in modern times and today’s politicians sometimes still use rhetoric related to mercantilism.
Professor in Economics and Finance of the Built Environment at University College London
Professor of Social and Economic History at the University of Cambridge and a Member of Queens’ College
Helen Paul, Lecturer in Economics and Economic History at the University of Southampton.
Producer Luke Mulhall