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Mercantilism In Perspective: A Historic Review

Author

Listed:
  • ONAH CELESTINE CHIJIOKE

    (Social Sciences Unit, School of General Studies, University of Nigeria, Nsukka, Nigeria)

  • ADUMA ALOYSIUS

    (Department of Public Administration, Enugu State University of Science and Technology (ESUT), Agbani, Enugu State, Nigeria)

  • DEBORAH O. OBI

    (Social Sciences Unit, School of General Studies, University of Nigeria, Nsukka, Nigeria)

Abstract

Nations’ human and material resources are unevenly endowed, distributed and developed. This allows flow of labor, raw materials, capital and finished products across national boundaries and markets; thus resulting in “mercantilism” as the earliest international economic system that proposes massive and aggressive export over import to accumulate wealth, to have favorable balance of payment and trade and to be still relevant in today’s economy. Game theory and Global Strategic Rivalry theory were used in analyzing various innovations and discoveries (industrial, technological, colonial, imperial, liberalism and globalization) as the economic strategies are offshoots of mercantilist evolvement. Hence, mercantilism never died nor was it buried as claimed by many scholars.

Suggested Citation

  • Onah Celestine Chijioke & Aduma Aloysius & Deborah O. Obi, 2021. "Mercantilism In Perspective: A Historic Review," Global Economy Journal (GEJ), World Scientific Publishing Co. Pte. Ltd., vol. 21(01), pages 1-17, March.
    • Handle: RePEc:wsi:gejxxx:v:21:y:2021:i:01:n:s2194565921500019
    DOI: 10.1142/S2194565921500019
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    Cited by:

    1. Celestine Chijioke Onah & Ikechukwu Asadu & Benjamin Amujiri, 2022. "Dynamics of the politico‐administrative conflicts of resource control in Nigeria: Exploring the oil politics of who gets what, when, and how," Natural Resources Forum, Blackwell Publishing, vol. 46(2), pages 245-259, May.

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