In the early modern period, changing attitude of Medieval Europe towards trade as an outcome of encounter with Muslim scholars and rulers and consequently emergence of 'mercantilism' was a turning point in the history of economic thought. The paper documents evidences which prove that initially mercantilism was a reaction against Muslim powers. In the rise of mercantilism, discovery of the New World is considered a significant factor. The main objective before explorers and pioneers of mercantilism was to strengthen their governments through the acquisition of precious metal to regain the Holy Places, defeat the enemy, check the expanding power of Muslim rivals and spread Christianity. However, later it ended up in an effective economic movement.
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Publisher Info
Paper provided by University Library of Munich, Germany in its series MPRA Paper with number
18384.
Length: Date of creation: 07 Oct 2006 Date of revision:
18 Feb 2007 Publication status: Published in Review of Islamic Economics 1.12(2008): pp. 137-150 Handle: RePEc:pra:mprapa:18384
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