12 Questions
What was the aim of Nyerere's ujamaa policy?
To promote 'familyhood' and self-reliance
Why did Nyerere's policy of collective farms fail?
They were unproductive
Which economic theory aligns with the emphasis on states producing for their own basic needs?
Import substitution industrialization
What does the text imply about economic nationalism in developing countries?
It is viewed positively when focusing on developing internal economies before competing globally
Which of the following was advocated by Thomas Mun and Alexander Hamilton?
Government intervention in markets to increase domestic manufactures
What was the main argument put forward by Thomas Mun in defense of mercantilism?
A country's wealth is increased by maintaining a positive balance of trade
What did Colbert advocate to encourage French traders to sell goods widely?
Rewards for building or buying new ships and for long-distance voyages
What did Alexander Hamilton outline in his Report on Manufactures to Congress?
Steps that the young country should take to secure its economy, especially in opposition to the economic might of other countries
What was Friedrich List's emphasis in extending Hamilton's argument?
Encouraging states to utilize their human resources for agricultural and manufactured products
What does Friedrich List argue is crucial for a nation's wealth and power?
Exporting more manufactured products, importing more raw materials, and consuming more tropical commodities
What was T.E. Gregory's criticism of economic nationalism?
Implementation of economic nationalism despite its negative impact on citizens and governments
According to Hamilton, what was the purpose of employing machines?
To increase the country’s self-sufficiency, wealth, and security
Test your knowledge of the economic memorandum written to the king in 1664, advocating for government intervention in markets and strategies to increase domestic manufacturing and trade. Explore the economic policies proposed during this time.
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