Neomercantilism and Economic Nationalism during the Industrial Revolution Quiz

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Questions and Answers

What did Alexander Hamilton and Friedrich List believe in regarding trade and industrialization?

Maintaining a positive balance of trade and increasing industrial exports (correct)

Discouraging industrialization and promoting agricultural exports

Eliminating trade barriers and promoting free trade

Focusing on military power and security

What was Hamilton's view on US government intervention in promoting industrialization?

Necessary due to Britain's discouragement of manufacturing in its colonies (correct)

Only necessary for infant industries

Unnecessary as free market forces would naturally promote industrialization

Harmful to the economy and should be avoided

What did List believe about the role of national unity in a state's economic development?

Irrelevant to economic development

Only necessary for certain industries

Harmful to economic growth

Important for imposing external trade barriers and launching national projects (correct)

Who were two prominent neomercantilist thinkers during the Industrial Revolution?

Alexander Hamilton and Friedrich List Signup and view all the answers

What did Hamilton believe was necessary for the US to promote industrialization?

Government intervention Signup and view all the answers

What did List believe was necessary for a state's economic development?

Protection for infant industries Signup and view all the answers

What is neomercantilism and how did it gain momentum during the Industrial Revolution?

Neomercantilism is a doctrine that viewed industrialization as essential for a state's military power, security, and economic self-sufficiency. It gained momentum during the Industrial Revolution. Signup and view all the answers

Who were Alexander Hamilton and Friedrich List, and what were their views on trade and industrialization?

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 believed in government intervention to promote industrialization, while List emphasized the importance of protection for infant industries. Signup and view all the answers

What is the difference between economic nationalism and neomercantilism, and how do they overlap in a nation-state?

Economic nationalism is not equivalent to statism, and economic nationalism and neomercantilism can overlap in a nation-state. List believed that liberal arguments for free trade did not take into account the influence of war on the necessity for a protective system, but he also believed that freedom of trade could operate naturally after infant industries were raised by artificial measures. Signup and view all the answers

Ποιοι ήταν οι κύριοι νεομερκαντιλιστές κατά την Επανάσταση της Βιομηχανίας και τι υποστήριζαν;

Ο Χάμιλτον και ο Λιστ υποστήριζαν τη θετική εμπορική ισορροπία και την αύξηση των εξαγωγών βιομηχανικών προϊόντων. Signup and view all the answers

Ποια ήταν η θέση του Χάμιλτον σχετικά με τη συνδεσιμότητα της ανεξαρτησίας και της ασφάλειας της χώρας με την ευημερία των βιομηχανικών της κλάδων;

Ο Χάμιλτον υποστήριζε ότι η ανεξαρτησία και η ασφάλεια της χώρας συνδέονται με την ευημερία των βιομηχανικών της κλάδων, και πρότεινε κρατική παρέμβαση και προστατευτισμό της βιομηχανίας. Signup and view all the answers

Ποια ήταν η σχέση του νεομερκαντιλιστικού δόγματος με την ανάπτυξη της βιομηχανιοποίησης;

Οι νεομερκαντιλιστές θεωρούσαν τη βιομηχανοποίηση αναγκαία για τη στρατιωτική δύναμη, την ασφάλεια και την οικονομική αυτάρκεια του κράτους, και έδωσαν νέα ώθηση στο νεομερκαντιλιστικό δόγμα κατά την Επανάσταση της Βιομηχανίας. Signup and view all the answers

Study Notes

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

Το μερκαντιλισμός ήταν δόγμα προβιομηχανικής εποχής.
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.
Ο Χάμιλτον και ο Λιστ ήταν οι κυριότεροι σκέπτες της εποχής που υποστήριζαν τη θετική εμπορική ισορροπία και την αύξηση των εξαγωγών βιομηχανικών προϊόντων.
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

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Description

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