| And some of the early mercantilists, like John Hales, were enchanted by the idea of an overflowing treasure chest. But Mr Grampp argues that, on the whole, we should stop confusing mercantilism and bullionism. |
| Many mercantilists also realized that the inevitable results of quotas and price ceilings were black markets. |
| It was the mercantilists who bridged the gap and, later on, Adam Smith built the whole edifice of economics. |
| The mercantilists saw a large population as a form of wealth that made possible the development of bigger markets and armies. |
| While Adam Smith portrayed mercantilism as supportive of strict controls over the economy, many mercantilists disagreed. |
| If the export lobby gets its way, freer trade will follow, further strengthening the mercantilists at the expense of the protectionists. |
