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Thomas Mun, 1571–1641: from Bullion to Foreign Trade

In: A Concise History of Economic Thought

Author

Listed:
  • Gianni Vaggi

    (University of Pavia)

  • Peter Groenewegen

    (University of Sydney)

Abstract

Thomas Mun’s grandfather was a provost in the Royal Mint, his father was a Mercer. He himself was a very successful merchant and became a Director of the East India Company in 1615. The East India Company was much criticised because its trade involved the export of bullion (in order to purchase spices). In 1621 Mun wrote a pamphlet, A Discourse of Trade, from England to East Indies, in order to defend the Company from the accusation of being detrimental to Britain’s prosperity because it exported bullion in order to import goods. In the pamphlet he described the benefits derived from this type of trade.

Suggested Citation

  • Gianni Vaggi & Peter Groenewegen, 2003. "Thomas Mun, 1571–1641: from Bullion to Foreign Trade," Palgrave Macmillan Books, in: A Concise History of Economic Thought, chapter 2, pages 13-22, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-50580-3_2
    DOI: 10.1057/9780230505803_2
    as

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