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AP European History
Unit 3 – Absolutism and Constitutionalism
Topic 3.4
How did Adam Smith's view of economic policy differ from the principles of mercantilism?
Smith encouraged colonization to acquire resources; mercantilists preferred domestic resource exploitation.
Smith believed in unlimited wealth, while mercantilists believed in limited wealth.
Smith promoted agrarian societies, whereas mercantilists preferred industrial ones.
Smith advocated for free trade, while mercantilist policies favored state-controlled trade.
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AP European History - 3.4 Economic Development and Mercantilism
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Mercantilism
Adam Smith's
Economic Policy
Principles
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Cram Mode
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© 2024 Fiveable Inc. All rights reserved.
AP® and SAT® are trademarks registered by the College Board, which is not affiliated with, and does not endorse this website.
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