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Within approximately two centuries and economists-theorists, and experts not
Doubted the important advantages to the country, following of the active
Trading balance and serious danger of passive balance, especially if
The last leads to leak of precious metals. However during the last
100 years the surprising difference in opinions has come to light. A great bulk
Statesmen and people of practice in the majority of the countries and, perhaps,
About their half even in Great Britain - in the homeland of an opposite view
- Remained are true to the old doctrine. At the same time almost all
Economists-theorists began to assert that these fears at all
Are proved if only not to approach to business with very the narrow point of view,
As the foreign trade mechanism is capable to self-regulation, and attempts
To interfere with its operation not only are useless, but also carry on to pauperisation of those,
Who resorts to them, losing advantages of the international division of labour.
It will be convenient, following the installed tradition, to name older
The term as each of them has both wider, and narrower
Value, it is necessary to understand depending on a context.
Generally speaking, modern economists not only assert that
The international division of labour, as a rule, eventually gives more
Advantages, than a policy of mercantilism, but also declare all argument
For example, Marshall (134) though also it is impossible to tell that it is negative
Responds about mercantilism, has not considered it necessary to concern at all the main ideas
Their sights about which I will speak more low (135). Similarly and
Directions in modern polemic concerning assistance to development
New industries or about relation improvement between the prices on
The export and import goods, do not mention the basis of ideas
Mercantilism. I do not remember, that during discussions concerning the financial
Politicians in the first quarter of current century though any economist
Has agreed with that the protectionism can increase internal employment.
Perhaps, is better to quote impartially that I wrote to that
Time. In 1923 I as the true pupil of classical school, not
Doubting to what it learnt, and without doing any retreats, wrote:
"If also there is something that cannot make protectionism so it to cure
From unemployment... In favour of protectionism there are certain arguments,
Grounded on that it can bring some, though also improbable,
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