The day of the merchant: a comment on economic thought in a national order

Places the concept of “national order” in the context of seventeenth century Europe, describes its characteristics and relates it to mercantilism, i.e. using economic activity to serve the interests of the nation. Outlines the ideas of one merchant of this time, quoting from his writings to illustrate his beliefs in the need for a favourable balance of trade, use of idle resources, minimization of consumption etc. Contrasts his “patriotic economics” with modern ideas (e.g. the principle of comparative advantage) but sees some similarities, e.g. in the recurring trade disputes between the USA and Japan.