What were mercantilist policies supposed to achieve

Reference no: EM132269329

Question: Need a short essay on 2 out of the 5 following questions:

1. International trade has always existed, although it did not create huge volumes of exchanges in antiquity. We discussed in class early examples of societies that specialized on trade, with significant success, (think of the Phoenicians, and the Athenians). Among them, at the dawn of the Modern Era, the Republic of Venice was especially successful. For centuries it managed to dominate East-West trade, (mostly goods that had traveled from East to West on the "Silk Road" and arrived to the shores of the Eastern Mediterranean), after having acquired control over the sea lanes in the Eastern Mediterranean Sea. Explain how Venice accomplished this dominant position, and why eventually it was lost.

2. Discuss the "Hansa League" and why it became so successful, for centuries in creating a reliable system of trade relations connecting cities in Northern Germany, to other cities in the Baltic City and beyond. It was a rules based system. Please describe why this is a significant achievement in the history of modern trade.

3. What is Mercantilism? Who was Jean Baptiste Colbert? What were mercantilist policies supposed to achieve? Was this approach to trade ultimately successful; or not? Please discuss.

4. The first long public debate about the merits of "Protectionism", versus "Free Trade" policies took place in Britain around the issue of the "Corn Laws'. Please discuss the arguments made on both sides, and why eventually Free Trade won.

5. The European Union is a solid example of a successful Free Trade Area, FTA. Please discuss the motives that led back in the 1950s to the beginning of the process of trade cooperation among the first group of 6 members and the EU mixed record when later on its development it started a process of integration in areas beyond trade (free movement of people, competition policy, monetary union, and more).

Reference no: EM132269329

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