Neomercantilism and Economic Nationalism during the Industrial Revolution Quiz

Neomercantilism and Economic Nationalism in the Industrial Revolution

• Neomercantilism gained momentum during the Industrial Revolution as a doctrine that viewed industrialization as essential for a state's military power, security, and economic self-sufficiency.
• Alexander Hamilton and Friedrich List were prominent neomercantilist thinkers who believed in maintaining a positive balance of trade and increasing industrial exports for long-term advantages.
• Hamilton's 1791 Report on the Subject of Manufactures is considered the intellectual origins of modern economic nationalism and the classic defense of economic protectionism.
• Hamilton believed that the US government intervention was necessary to promote industrialization, as Britain discouraged manufacturing in its colonies.
• List emphasized the importance of manufacturing for a state's economic development and believed that protection for infant industries was necessary for Germany and the US to catch up with Britain.
• List also highlighted the importance of national unity to impose external trade barriers, launch national projects, and develop human capital.
• Although List was critical of Adam Smith's brand of liberalism, he was influenced by Smith's arguments for free trade and believed that protection should be targeted, not excessive, and temporary.
• IPE scholars have different interpretations of List's writings, with some describing him as an economic nationalist and neomercantilist, while others argue that he was an economic nationalist, but not a neomercantilist.
• A state is a sovereign, territorial political unit, and a nation is a group of people who feel tied by a common ethnicity, culture, language, history, or religion.
• Economic nationalism is not equivalent to statism, and economic nationalism and neomercantilism can overlap in a nation-state.
• List wrote that liberal arguments for free trade did not take into account the influence of war on the necessity for a protective system.
• List believed that after infant industries were "raised by artificial measure," freedom of trade could then "operate naturally."

Η Νεομερκαντιλιστική Σκέψη του Χάμιλτον και του Λιστ κατά την Επανάσταση της Βιομηχανίας

1. Το μερκαντιλισμός ήταν δόγμα προβιομηχανικής εποχής.
2. Η Επανάσταση της Βιομηχανίας έδωσε νέα ώθηση στους νεομερκαντιλιστές που θεωρούσαν τη βιομηχανοποίηση αναγκαία για τη στρατιωτική δύναμη, την ασφάλεια και την οικονομική αυτάρκεια του κράτους.
3. Ο Χάμιλτον και ο Λιστ ήταν οι κυριότεροι σκέπτες της εποχής που υποστήριζαν τη θετική εμπορική ισορροπία και την αύξηση των εξαγωγών βιομηχανικών προϊόντων.
4. Ο Χάμιλτον υποστήριζε ότι η ανεξαρτησία και η ασφάλεια της χώρας συνδέονται με την ευημερία των βιομηχανικών της κλάδων, και πρότεινε κρατική παρέμβαση και προστ

Test your knowledge on neomercantilism and economic nationalism during the Industrial Revolution with this informative quiz. Learn about the prominent neomercantilist thinkers such as Alexander Hamilton and Friedrich List, and their beliefs in maintaining a positive balance of trade and increasing industrial exports for long-term advantages. Discover the intellectual origins of modern economic nationalism and the classic defense of economic protectionism in Hamilton's 1791 Report on the Subject of Manufactures. Explore List's emphasis on the importance of manufacturing for