What is Mercantilism? | International Business | From A Business Professor

[@CalebHopkins-q1m]

I found this video very interesting. This is a topic I had little to no knowledge of. One thing I really appreciate about this video is it breaks down this topic and makes it easy to absorb. I always appreciate getting a background first for whatever topic I'm studying.

[@DevonJensen]

The way you broke down the key concepts and their implications was especially helpful. Thanks for making such an informative and accessible video

[@RyanWalls-s8p]

I found it fascinating to learn about the importance of this topic. What intrigued me the most were the characteristics discussed. It was particularly interesting to learn that having a large population is one of these characteristics. It makes sense, but realizing that the desire for a larger population is driven by the goal of increased wealth was quite eye-opening.

[@allistevenson6430]

I really enjoyed the historical side of mercantilism, it really puts into effect how a way of life that long ago is still present in today's society and it shaped our whole economic system.

[@RileyDonohoe-u8r]

I really enjoyed this video mostly because learning the history of things like this has always fascinated me. The characteristics of mercantilism are one of the things that surprised me the most. Wealth being static is something I have thought about today but when thinking back to the 16th century of wealth now is much more active and dynamic than theirs was. However upon further thought I think that theirs may have been more luck based? I need to mull it over more .

[@genetamerga6052]

this vedio is verey inportant about mrrcsntlism it is nayce explanstion.

[@luztorres2934]

I remember learning about mercantilism in 7th grade but the only thing I remember was the business relationship between the Colonies and England. Watching this video definitely helped broaden my knowledge and understanding of mercantilism.

[@garrettarredondo1441]

loved this video very informative

[@brianshine6151]

Gold had such a significant role in the economy. An economy seemed wealthier the more gold it possessed. The decline was caused by import restrictions, which increased the cost of goods for consumers.

[@ryandaugherty1116]

I quite enjoyed learning about Mercantilism and I thought of it as being one of the simpler theories/practices to understand. What I found most interesting were the downsides of the idea of constantly maintaining a trade surplus. Though I don't believe it was fully explained in the video, when the country participating in Mercantilism continuously took in wealth, inflation worsens in that country, products become more and more expensive, and eventually, foreign countries can no longer afford to buy their exports due to the rising cost to produce. This is especially true considering that the country participating in Mercantilism also takes away the wealth from foreign nations (zero-sum game). This explains why a nation can't maintain a trade surplus indefinitly. I do also want to mention that I understand that wealth is not finite, as you have mentioned, but is created through the productive allocation of labor (one of the main reasons for the decline of the practice). Man, some of these comments read like they didn't even watch the video.

[@BusinessSchool101]

Good point, btw, not all comments are from our students.

[@shamarcravens9668]

This was a great video. Mercantilism exists to increase a country's wealth through its exports. British economic growth was propelled by raw materials supplied by its colonies so the nation could export finished products. Mercantilism brought about many acts against humanity, including slavery and an imbalanced system of trade.

[@nickoslovar9283]

I have always heard the word "mercantilism" and knew it was about gold but didn't have a great understanding of what it truly meant and this video was able to help me understand the meaning. More gold equals more wealth and power and this video did a great job of showing me that. I also learned the historical background of it and was very surprised of how far back it dates back to. I also learned that there is a recent rise of mercantilism and it is being used as a protectionists view point and has worked for many countries.

[@maddieedge7544]

You always hear the word "mercantilism" but I never really understood what it was. The examples provided in this video really helped me understand what mercantilism really was. I had no idea that mercantilism had been around for so long as well, really interesting to me that we get to learn all about these things so long after.

[@kylafranklin]

I like learning about mercantilism. This technique must have been one of the cornerstones of commerce in the early days of globalization, in my opinion. This movie does a great job of explaining mercantilism to me.

[@PhoreX4]

I was always really big into history in high school and it was easily my best subject. It is awesome that I am able to learn more about it in college and how it is associated with my business degree.

[@haileyedwards2506]

This video was very informative. I did not know anything about mercantilism nor have I ever heard the word. It was really interesting to hear that this is such an important thing. The characteristics were what I found the most interesting though. I thought it was cool to learn that large population was one of these. It makes sense but to think that they wanted a larger population just to have more wealth was really interesting.

[@kathrynanderson8071]

Before this video, I forgot what mercantilism really was, but once I watched this lecture I quickly remembered that it is a valuable asset countries around the world use for international trade and importing and exporting. Now that I know more about it, I feel like I will be able to remember what it is from now on. Great lecture!

[@lemlemdema567]

Thank you sir

[@JacksonNaeger]

I really enjoyed this video. It's crazy now how much we still value gold today. One example I can pinpoint in recent history of Mercantilism is WW2 when in the beginning of the war we shipped a lot of ammunition and vehicles to Europe to help aid the allies. Great Video!

[@EmilyWalker-u4n]

In the 16th century, countries like Great Britain had the advancement to acquire the land/take over the other regions to claim their colonies. This was simply a business move; the colonies would produced the raw materials and the home country would then be able to export the finished goods to other countries and those same colonies for profit.

[@maddieholley6104]

I remember learning a little about mercantilism in high school but I couldn’t tell you what it meant before watching this video. All of the examples helped me understand a little more. I was a little surprised it had anything to do with business, I don’t think I’ve learned anything about it in college until now.

[@samwolfenstein5239]

Understanding the history of mercantilism, it's strange and interesting to see it begin to creep back into economic policy in the modern day. It's not something that an observer from back in the 1990's would ever possibly expect, and even as an observer from the 2020's it doesn't make much sense.

[@alleciapriest5145]

This video does a great job of explaining what mercantilism is and how the accumulation of gold was associated with wealth and power. Gold itself had a lot of association with the colonies at the time and how they were dependent on each other. I had no prior knowledge of mercantilism before watching this video!

[@HIIMHUMAN23]

Crazy to see these past things we see as "Archaic" coming back today and countries practicing them in the 2022 market

[@tiffanytaylor3059]

I think mercantilism provides a great way for countries to highlight on the use of local products, but also maintain great relationships with other countries. Though it started out as gold, it eventually led to the export and import of products that were not available in other countries.

[@mercantilistic]

you know I love it

[@anthenehbeze.]

Thank you

[@carsonbooth1568]

I am surprised throughout all of the years I’ve been in school I never truly understand “mercantilism” and it’s meaning of the holdings of wealth primarily in the form of gold. Very informative video and helped my understanding towards this definition.

[@bzbz7932]

Smith was wrong because saying a population PREFERS a certain type of labor is ridiculous. If anything, it's just contemporary culture.

[@TCMUSA]

Before seeing this film, I had no prior knowledge of or exposure to Mercantilism. I had an enjoyable time examining its past and how Mercantilism came to be. This film provided an enormous quantity of knowledge to me. Hearing that something like this is so crucial was quite intriguing. However, I was particularly drawn in by the traits. It it always good to learn something that you had no idea existed and in this case for me was learning about Mercantilism.

[@hayliehorton]

I had not heard of nor did I know about Mercantilism before I watched this video. I very much enjoyed learning about its history and how Mercantilism came about. I always enjoy learning more about the history of gold as well because I just find it fascinating how gold was used in history. I really enjoyed watching this video and learning something I no previous knowledge of.

[@selfmadetone2605]

Before this video I didn't really understand what mercantilism meant but i now my knowledge has been expanded about it. I learned the importance of gold and monetary value equals more power and the ability to be able to exchange for other goods. As a business major this is something i will use in the future.

[@pakorasonia432]

This is a new concept I learned in this video. I never learned about mercantilism, but mercantilism looks like slavery. most developed countries used mercantilism to take away their colonies' gold. The theory was just invented to abuse the weak countries by taking the gold because the developed were taking gold from their countries, and the colonies were not getting significant good in turning.

[@jorgemunoz6827]

Gold was such a important part of the economy . With the more gold a economy had the more wealthy they appeared. What led to its decline was the restriction of imports as it meant consumers had to pay more for a item.

[@hannahbowman4065]

I did not know much about mercantilism until this video. It was very informative and very interesting to learn the history of gold and where it came from.I feel that this is very easy to understand when given the correct information, which this video did a great job of doing!

[@derickbeard7227]

This video helped me understand what mercantilism actually is. I've heard of it in the past here and there but never really thought much of it. I'd say plenty of countries, if not all, use mercantilism. Or at least try to use it. What is a country with a weak military power?

[@gonzalofernandezgil3038]

Mercantilism is a trade system that is been with us for a long time, I always study this system in my history classes back in high school. I find this system a very easy one to understand, if you export more than you import and you have more gold means better way of living for the population.

[@keilaberenice]

In middle school we first learned about mercantilism. My teacher told us about how they traded gold for goods and services, and how everyone wanted gold. I often wonder what it would be like if we still used gold today. That must've been such a hassle to deal with. This video helped me understand mercantilism more than my 6th grade class did.

[@joshuaplunkett4888]

This video really fleshed out my understanding of mercantilism. I found the portion about neo-mercantilism especially interesting because an economic ideology that was popular in the 16th century is now relevant in the 21st.

[@jeleysemorquecho649]

I never truly had a understanding of what mercantilism truly is. I think that this video did a great job understanding it. I enjoyed the examples that were given in this video.

[@_jimin.18]

Can you please the share the ppts?

[@garretttaylor2888]

Mercantilism purpose is to empower a nation with wealth and resource acquisition while improving its military and political might. Just by the explanation of this in the video can show how important it really is. If you do not have wealth in a nation then where will the government, military, etc., get the funds to operate.

[@alejandraserrano2406]

I enjoyed learning about mercantilism. I think this practice must have been one of the foundations of business in the early world of globalization. As the practice of mercantilism declined and criticisms emerged by the end of the 18th century, I am curious to learn more about what practices and theories replaced it. It is also interesting to know that some of the practices I've known about, such as tariffs, are examples of protectionist policies.

[@courtneyplocheck5624]

I never really understood what this word "mercantilism" meant in depth but after this video i can say i fully understand what it means. It showed me that the more gold you have then the more power you have in which this dates back very far to when there was still colonies.

[@collindew6484]

This video helped me understand what mercantilism really is, I did not know how long mercantilism was around for. I also did not know that Britain used their colonies as much as they did, I always thought of Britain as a very profitable country without having to rely on other countries.

[@erinmonreal7553]

Prior to watching this video, I had limited knowledge about mercantilism. However, they found the video to be highly informative and intriguing, particularly regarding the history of gold and its origins. The viewer believes that with the right information, understanding mercantilism becomes much easier, and they commend the video for effectively providing that information. Overall, they found the video to be a great resource for learning and grasping the concepts of mercantilism.

[@tannerdavis8843]

I have never realized how long mercantilism prevailed in the world for, and how important it was to the explosion of growth for the British and French Empires at the time.

[@willkuczkowski2401]

mercantilism is an interesting topic to talk about, especially if you try to put it into today's standards. I feel like currency would be much more appreciated it we were still on the gold standard

[@josephvera497]

I thought it was interesting how mercantilism can be seen thought the expansion into the Americas through the British and Spanish empires. This can be seen through these countries reliance on colonies and dependency on gold as well as other factors.

[@lucasburch5370]

Very interesting to learn about the history of Mercantilism and how it works in the economy. This video was very insightful and helped me better understand it.

[@loganhenderson9630]

I really enjoyed this video because I have never really learned about mercantilism and this helped me a lot on this topic. I think it is really cool how back in the day gold was the main source of trade. Everything was traded for gold because gold was in such demand. I also find it interesting on how trading goods back then worked.

[@RobinVoils]

The fact of the matter is that there is no reason to conduct our foreign policy these days in our own respective countries like this. Contrary to previous beliefs in previous time periods, life IS NOT a zero-sum game. There is more wealth and prosperity available for everyone to go around. We all just have to do our own individual part for it. But it is possible.

[@emilya4877]

All of the videos are great but I like this one because it talks about the history and it explains things to do with mercantilism and I found it very interesting. I honestly didn't really know what it was before this video.

[@kastonmason4193]

This was another subject I'd learned at a younger age but really understand it now and learned many new things about mercantilism.

[@brendaborrego4745]

This video was really informative I forgot was mercantilism was and this video helped me understand and refresh my memory.

[@jacobyschunatz9756]

I have now learnt mercantilism thrice, and each time in a different way or from a different aspect. This way seems to look at it chronologically and with standard facts, honestly, I found it easier to learn this way than with the songs from high school. I also did not know that there were counter theories to mercantilism whatsoever, so that was the first I had heard of it and heard of labor being used as a factor as well.

[@vickdeem]

This video is very insightful! Thanks to its creator.

[@tristynboone6256]

I had never even heard of mercantilism before, however, now I have. I also know the history and how it affects the economy, the characteristics, and even examples.

[@渡辺雄大-v9b]

This video was so impressive for me. I was suprised to trade gold for a long time ago. I am interesting in how to make coins from gold for long years ago.

[@kaylap32]

I didn't really know what mercantilism was, I think I learned about it in middle school at one point. However, even though it isn't a very well known thing now, I think it is something important that happened. I think if we didn't have mercantilism, the world would not be the same as it is today.

[@loveislam4574]

Gold back to Britain 😂😂😂, Britain stole gold from India. Britain didn't possess many natural resources. Their economy was running from the exploiting thier colonies. Now please dont say they brought development into those nations so be grateful. Britain brought misery and unauthoritative regime which led to suffering to millions of native people.

[@OverOnTheWildSide]

Gold and wealth is never a noble pursuit. It seems to me the introduction of Capitalism was Mercantilism without restraint.

[@markwithak2055]

Nah, I don't agree with your definition of Mercantilism. The Dutch invented the worlds first Stock Exchange and first Central bank in Amsterdam and also worlds first multinational corporation in 1600. Sounds pretty like they invented REAL modern Capitalism to me. Don't agree with British 1800s propaganda that Adam Smith invented capitalism... The Dutch king William III (of Orange) founded the Bank of England in 1694, just saying..

[@markwithak2055]

The worlds reserve currency of the 1600s was the Dutch Guilder and was good for payment for over 75% of all of worlds trade, like USD now

[@lanehutchinson4761]

Mercantilism was an economic theory and political prevailing in Europe from the 16th to 18th century governments. Actively intervened in the economy through regulations societies, and protecting us measures to achieve these goals. It was characterized by the belief that a nations, wealth and power measured by accumulation of precious metals, particularly gold and silver mercantilist policies emphasize a positive balance of trade meaning exporting more goods than important to a mass precious metals. Mercantilism also promoted the idea that colony should service sources of raw materials and markets for the mother country’s manufactured goods. While I play the significant role in the economic policies of its time mercantilism eventually gave way to more liberal economic theory, such as those associated with classical economics.

[@hiwaga7399]

Please don't sugarcoat the impact of mercantilism _on_ the colonies. Our economies are still impacted by hundreds of years under rule.

[@何江林]

the voice of two girls sounds like a pretty bird