Mercantilism and the Muslim states: Lessons from the history
AbstractMercantilism was the dominant current of economic thinking and practice during the 16th, 17th, and 18th centuries till the emergence of physiocracy. The scientific discoveries in Europe helped the development of mercantilism in many ways. Discovery of new world provided them with new market and a new all water route of European trade through the Cape of the Good Hope. On all these fronts the Muslim states lagged behind. Their absence from this front left the merchant-patronizing governments free to impoverish a larger part of the world by establishing colonies and exploiting them to their own benefit. The development of mercantilism marked the shift of paradigm. It ignored ethical considerations and destroyed moral values that had been hitherto inseparable part of economic thinking and practices.
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 22632.
Date of creation: 1991
Date of revision: 1991
Pre-classical Economics; price and market; Pre-Smithian Pricing Mechanism.;
Other versions of this item:
- Islahi, Abdul Azim, 2008. "Mercantilism and the Muslim states: Lessons from the history," MPRA Paper 22964, University Library of Munich, Germany, revised 2009.
- B0 - Schools of Economic Thought and Methodology - - General
- A1 - General Economics and Teaching - - General Economics
- D4 - Microeconomics - - Market Structure and Pricing
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Islahi, Abdul Azim, 2006. "The emergence of mercantilism as a reaction against Muslim power: some of the evidences from history," MPRA Paper 18384, University Library of Munich, Germany, revised 18 Feb 2007.
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