ECS3705
Assignment 2 Semester 2 2024
Detailed Solutions, References & Explanations
Unique number:
Due Date: 2024
QUESTION 1
Mercantilist Principles in Kenya’s Approach to the Fourth Industrial Revolution
Introduction
Kenya's efforts to position itself in the fourth industrial revolution reflect a range of economic
principles that are closely aligned with traditional mercantilist thought. Mercantilism, an economic
theory that dominated European thought from the 16th to the 18th century, emphasizes the role of
the state in managing the economy to increase national wealth and power. This approach often
involves state intervention in industries, protectionist policies, and the strategic development of key
sectors. In the context of the fourth industrial revolution, which is characterized by the integration
of modern technologies such as automation, artificial intelligence, and digitalization into industrial
processes, Kenya’s strategy demonstrates several mercantilist principles. This essay identifies and
explains five mercantilist principles implied in Kenya's strategy as described in the extract from the
article.
Terms of use
By making use of this document you agree to:
• Use this document as a guide for learning, comparison and reference purpose,
• Not to duplicate, reproduce and/or misrepresent the contents of this document as your own work,
• Fully accept the consequences should you plagiarise or misuse this document.
Disclaimer
Extreme care has been used to create this document, however the contents are provided “as is” without
any representations or warranties, express or implied. The author assumes no liability as a result of
reliance and use of the contents of this document. This document is to be used for comparison, research
and reference purposes ONLY. No part of this document may be reproduced, resold or transmitted in any
form or by any means.
Assignment 2 Semester 2 2024
Detailed Solutions, References & Explanations
Unique number:
Due Date: 2024
QUESTION 1
Mercantilist Principles in Kenya’s Approach to the Fourth Industrial Revolution
Introduction
Kenya's efforts to position itself in the fourth industrial revolution reflect a range of economic
principles that are closely aligned with traditional mercantilist thought. Mercantilism, an economic
theory that dominated European thought from the 16th to the 18th century, emphasizes the role of
the state in managing the economy to increase national wealth and power. This approach often
involves state intervention in industries, protectionist policies, and the strategic development of key
sectors. In the context of the fourth industrial revolution, which is characterized by the integration
of modern technologies such as automation, artificial intelligence, and digitalization into industrial
processes, Kenya’s strategy demonstrates several mercantilist principles. This essay identifies and
explains five mercantilist principles implied in Kenya's strategy as described in the extract from the
article.
Terms of use
By making use of this document you agree to:
• Use this document as a guide for learning, comparison and reference purpose,
• Not to duplicate, reproduce and/or misrepresent the contents of this document as your own work,
• Fully accept the consequences should you plagiarise or misuse this document.
Disclaimer
Extreme care has been used to create this document, however the contents are provided “as is” without
any representations or warranties, express or implied. The author assumes no liability as a result of
reliance and use of the contents of this document. This document is to be used for comparison, research
and reference purposes ONLY. No part of this document may be reproduced, resold or transmitted in any
form or by any means.
