the mercantilist Economic system (1)

central to mercantilist thinking was the view that national wealth was reflected in a country try is holdings of precious metals .In addition ,one of the most important pillars of mercantilist thought was the static view of world resources .Economic activity in this setting can be viewed as a zero-sum game in which one country is economic gain was at the expense another. (A zero -sum game such as poker where one person is winning are matched by the losses of the other players.)Acquisition of precious metal thus became the means for increasing wealth and well-being and the focus of the emerging European nation states .In a hostile world ,the enhancement of state power was critical to the growth process,and this was another important mercantilist doctrine.A strong army ,strong navy and merchant marine ,and productive economy were critical to maintaining and increased the power of a nation-state.