Ecs3705 study unit 3 Study guides, Study notes & Summaries

ECS3705 STUDY NOTES SUMMARY AND EXAM PREP 2021. Last document update:   ago

ECS3705 STUDY NOTES SUMMARY. History Of Economic Thought. French mercantilism differed from its English counterpart in two main ways. First, it had a stronger feudal flavour, meaning that its policies and regulations were also aimed at protecting the interests of the landed nobility in addition to the interests of the merchants. That is why tolls and other restrictions on intranational trade were part of mercantilist state regulation in France too. Second, French mercantilism was probably st...

ECS3705-Study-unit-3 notes Last document update:   ago

ECS3705-Study-unit-3 Chapter 6, 7 & 8: Chapter 6 1. Malthus on the Poor Laws Malthus believed poverty and misery are natural punishments for the failure by the “lower classes” to restrain their reproduction. He felt that there must be no government relief for the poor. He believed that by giving them aid would cause more children to survive thus ultimately worsening the problem of hunger. Some of his ideas were adopted into the Poor Laws. This law abolished all relief for ablebodied p...

ECS3705 Exam Preparations 2021. Last document update:   ago

ECS3705 Exam Prep. History Of Economic Thought. Mercantilism can roughly be characterised as an exercise in nation building by way of an alliance between the city merchant and the monarch, both of whom had gained in power and prestige. The monarch (king or queen) gave the merchant the protection and privileges of monopoly that he needed for his business endeavours and, conversely, the merchant provided the monarch with the tax income in the form of precious metals (gold and silver) to finan...