COLONIALISM DEFINITIONS:

A policy by which a nation maintains or extends its control over foreign dependencies. the control or governing influence of a nation over a dependent country, territory, or people. 2. the system or policy by which a nation maintains or advocates such control or influence. 3. the state or condition of being colonial. 4. an idea, custom, or practice peculiar to a colony.

became particularly acute, as dominion of Europe over the rest of the world reached its zenith. Ironically, in the same period when most political philosophers began to defend the principles of universalism and equality, the same individuals still defended the legitimacy of colonialism and imperialism. One way of reconciling those apparently opposed principles was the argument known as the civilizing mission, which suggested that a temporary period of political dependence or tutelage was necessary in order for uncivilized societies to advance to the point where they were capable of sustaining liberal institutions and self-government. The goal of this entry is to analyze the relationship between Western political theory and the project of colonialism. After providing a more thorough discussion of the concept of colonialism, the third and forth sections of the entry will address the question of how European thinkers justified, legitimized, and challenged political domination. The fifth section briefly discusses the Marxist tradition, including Marx's own defense of British colonialism in India and Lenin's anti-imperialist writings. The final section provides an introduction to contemporary post-colonial theory. This approach has been particularly influential in literary studies because it draws attention to the diverse ways that postcolonial subjectivities are constituted and resisted through discursive practices. The goal of the entry is to provide an overview of the vast and complex literature that explores the theoretical issues emerging out of the experience of European colonization. http://www.britannica.com/EBchecked/topic/126237 /colonialism-Western http://www.answers.com/topic/colonialism http://dictionary.reference.com/browse/colonialism

colonialism, Western, a political-economic phenomenon whereby various European nations explored, conquered, settled, and exploited large areas of the world. The age of modern colonialism began about 1500, following the European discoveries of a sea route around Africa s southern coast (1488) and of America (1492). With these events sea power shifted from the Mediterranean to the Atlantic and to the emerging nationstates of Portugal, Spain, the Dutch Republic, France, and England. By discovery, conquest, and settlement, these nations expanded and colonized throughout the world, spreading European institutions and culture. ... (89 of 32004 words) Colonialism is a practice of domination, which involves the subjugation of one people to another. One of the difficulties in defining colonialism is that it is hard to distinguish it from imperialism. Frequently the two concepts are treated as synonyms. Like colonialism, imperialism also involves political and economic control over a dependent territory. The etymology of the two terms, however, provides some clues about how they differ. The term colony comes from the Latin word colonus, meaning farmer. This root reminds us that the practice of colonialism usually involved the transfer of population to a new territory, where the arrivals lived as permanent settlers while maintaining political allegiance to their country of origin. Imperialism, on the other hand, comes from the Latin term imperium, meaning to command. Thus, the term imperialism draws attention to the way that one country exercises power over another, whether through settlement, sovereignty, or indirect mechanisms of control. The legitimacy of colonialism has been a longstanding concern for political and moral philosophers in the Western tradition. At least since the Crusades and the conquest of the Americas, political theorists have struggled with the difficulty of reconciling ideas about justice and natural law with the practice of European sovereignty over non-Western peoples. In the nineteenth century, the tension between liberal thought and colonial practice

CAPITALISM DEFINITION
the control or governing influence of a nation over a dependent country, territory, or people. 2. the system or policy by which a nation maintains or advocates such control or influence. 3. the state or condition of being colonial. 4. an idea, custom, or practice peculiar to a colony.

Capitalism is a social system based on the principle of individual rights. The term capitalism is used here in the broader philosophical political sense, and not in the narrower economic sense, i.e. a free-market. The Capitalism Tour is the most popular feature of this site.

The rest of The Capitalism Site assumes you are familiar with the material provided in the tour. Capitalism is the social system which now exists in all countries of the world. Under this system, the means for producing and distributing goods (the land, factories, technology, transport system etc) are owned by a small minority of people. We refer to this group of people as the capitalist class. The majority of people must sell their ability to work in return for a wage or salary (who we refer to as the working class.) The working class are paid to produce goods and services which are then sold for a profit. The profit is gained by the capitalist class because they can make more money selling what we have produced than we cost to buy on the labour market. In this sense, the working class are exploited by the capitalist class. The capitalists live off the profits they obtain from exploiting the working class whilst reinvesting some of their profits for the further accumulation of wealth. This is what we mean when we say there are two classes in society. It is a claim based upon simple facts about the society we live in today. This class division is the essential feature of capitalism. It may be popular to talk (usually vaguely) about various other 'classes' existing such as the 'middle class', but it is the two classes defined here that are the key to understanding capitalism. It may not be exactly clear which class some relatively wealthy people are in. But there is no ambiguity about the status of the vast majority of the world's population. Members of the capitalist class certainly know who they are. And most members of the working class know that they need to work for a wage or salary in order to earn a living (or are dependent upon somebody who does, or depend on state benefits.) The profit motive In capitalism, the motive for producing goods and services is to sell them for a profit, not to satisfy people's needs. The products of capitalist production have to find a buyer, of course, but this is only incidental to the main aim of making a profit, of ending up with more money than was originally invested. This is not a theory that we have thought up but a fact you can easily confirm for yourself by reading the financial press. Production is started not by what consumers are prepared to pay for to satisfy their needs but by what the capitalists calculate can be sold at a profit. Those goods may satisfy human needs but those needs will not be met if people do not have sufficient money. The profit motive is not just the result of greed on behalf of individual capitalists. They do not have a choice about it. The need to make a profit is imposed on capitalists as a condition for not losing their investments and their

position as capitalists. Competition with other capitalists forces them to reinvest as much of their profits as they can afford to keep their means and methods of production up to date. As you will see, we hold that it is the class division and profit motive of capitalism that is at the root of most of the world's problems today, from starvation to war, to alienation and crime. Every aspect of our lives is subordinated to the worst excesses of the drive to make profit. In capitalist society, our real needs will only ever come a poor second to the requirements of profit. Capitalism = free market? It is widely assumed that capitalism means a free market economy. But it is possible to have capitalism without a free market. The systems that existed in the U.S.S.R and exist in China and Cuba demonstrate this. These classdivided societies are widely called 'socialist'. A cursory glance at what in fact existed there reveals that these countries were simply 'state capitalist'. In supposedly 'socialist' Russia, for example, there still existed wage slavery, commodity production, buying, selling and exchange, with production only taking place when it was viable to do so. 'Socialist' Russia continued to trade according to the dictates of international capital and, like every other capitalist, state, was prepared to go to war to defend its economic interests. The role of the Soviet state became simply to act as the functionary of capital in the exploitation of wage labour, setting targets for production and largely controlling what could or could not be produced. We therefore feel justified in asserting that such countries had nothing to do with socialism as we define it. In fact, socialism as we define it could not exist in one country alone like capitalism it must be a global system of society. It is also possible (at least in theory) to have a free market economy that is not capitalist. Such a 'market economy' would involve farmers, artisans and shopkeepers each producing a particular product that they would exchange via the medium of money. There would be no profitmaking and no class division just independent producers exchanging goods for their mutual benefit. But it is doubtful whether such an economy has ever existed. The nearest that may have come to it would have been in some of the early colonial settlements in North America. Some Greens wish to see a return to this kind of economy. We do not think that it is a viable alternative for modern society. Such a system would almost inevitability lead to capital accumulation and profit making the definitive features of capitalism.2 http://www.worldsocialism.org/articles/what_is_capi talism.php http://capitalism.org/ http://dictionary.reference.com/browse/capitalism

MERCANTILISM
the theory or commercialism practice of mercantile pursuits :

mercantile classes induced governments to enact policies that would protect their business interests against foreign COMPETITION. These policies took many forms. Domestically, governments would provide capital to new industries, exempt new industries from guild rules and taxes, establish monopolies over local and colonial markets, and grant titles and PENSIONS to successful producers. In trade policy the government assisted local industry by imposing tariffs, quotas, and prohibitions on imports of goods that competed with local manufacturers. Governments also prohibited the export of tools and capital equipment and the emigration of skilled labor that would allow foreign countries, and even the colonies of the home country, to compete in the production of manufactured goods. At the same time, diplomats encouraged foreign manufacturers to move to the diplomats own countries. Shipping was particularly important during the mercantile period. With the growth of colonies and the shipment of gold from the New World into Spain and Portugal, control of the oceans was considered vital to national power. Because ships could be used for merchant or military purposes, the governments of the era developed strong merchant marines. In France, Jean-Baptiste Colbert, the minister of finance under Louis XIV from 1661 to 1683, increased port duties on foreign vessels entering French ports and provided bounties to French shipbuilders. In England, the Navigation Act of 1651 prohibited foreign vessels from engaging in coastal trade in England and required that all goods imported from the continent of Europe be carried on either an English vessel or a vessel registered in the country of origin of the goods. Finally, all trade between England and its colonies had to be carried in either English or colonial vessels. The Staple Act of 1663 extended the Navigation Act by requiring that all colonial exports to Europe be landed through an English port before being re-exported to Europe. Navigation policies by France, England, and other powers were directed primarily against the Dutch, who dominated commercial marine activity in the sixteenth and seventeenth centuries. During the mercantilist era it was often suggested, if not actually believed, that the principal benefit of foreign trade was the importation of gold and silver. According to this view the benefits to one nation were matched by costs to the other nations that exported gold and silver, and there were no net gains from trade. For nations almost constantly on the verge of war, draining one another of valuable gold and silver was thought to be almost as desirable as the direct benefits of trade. Adam Smith refuted the idea that the wealth of a nation is measured by the size of the treasury in his famous treatise The Wealth of Nations, a book considered to be the foundation of modern economic theory. Smith made a number of important criticisms of mercantilist doctrine. First, he demonstrated that trade, when freely initiated, benefits both parties. Second, he argued that specialization in production allows

: an economic system developing during the decay of feudalism to unify and increase the power and especially the monetary wealth of a nation by a strict governmental regulation of the entire national economy usually through policies designed to secure an accumulation of bullion, a favorable balance of trade, the development of agriculture and manufactures, and the establishment of foreign trading monopolies

mercantilism is economic nationalism for the purpose of building a wealthy and powerful state. ADAM SMITH coined the term mercantile system to describe the system of political economy that sought to enrich the country by restraining imports and encouraging exports. This system dominated Western European economic thought and policies from the sixteenth to the late eighteenth centuries. The goal of these policies was, supposedly, to achieve a favorable balance of trade that would bring gold and silver into the country and also to maintain domestic employment. In contrast to the agricultural system of the physiocrats or the laissez-faire of the nineteenth and early twentieth centuries, the mercantile system served the interests of merchants and producers such as the British East India Company, whose activities were protected or encouraged by the state. The most important economic rationale for mercantilism in the sixteenth century was the consolidation of the regional power centers of the feudal era by large, competitive nation-states. Other contributing factors were the establishment of colonies outside Europe; the growth of European commerce and industry relative to agriculture; the increase in the volume and breadth of trade; and the increase in the use of metallic monetary systems, particularly gold and silver, relative to barter transactions. During the mercantilist period, military conflict between nation-states was both more frequent and more extensive than at any other time in history. The armies and navies of the main protagonists were no longer temporary forces raised to address a specific threat or objective, but were full-time professional forces. Each government s primary economic objective was to command a sufficient quantity of hard currency to support a military that would deter attacks by other countries and aid its own territorial expansion. Most of the mercantilist policies were the outgrowth of the relationship between the governments of the nation-states and their mercantile classes. In exchange for paying levies and taxes to support the armies of the nation-states, the

for economies of scale, which improves EFFICIENCY and growth. Finally, Smith argued that the collusive relationship between government and industry was harmful to the general POPULATION. While the mercantilist policies were designed to benefit the government and the commercial class, the doctrines of laissez-faire, or free markets, which originated with Smith, interpreted economic welfare in a far wider sense of encompassing the entire population. While the publication of The Wealth of Nations is generally considered to mark the end of the mercantilist era, the laissez-faire doctrines of free-market economics also reflect a general disenchantment with the imperialist policies of nation-states. The Napoleonic Wars in Europe and the Revolutionary War in the United States heralded the end of the period of military confrontation in Europe and the mercantilist policies that supported it. Despite these policies and the wars with which they were associated, the mercantilist period was one of generally rapid growth, particularly in England. This is partly because the governments were not very effective at enforcing the policies they espoused. While the government could prohibit imports, for example, it lacked the resources to stop the smuggling that the prohibition would create. In addition, the variety of new products that were created during the INDUSTRIAL REVOLUTION made it difficult to enforce the industrial policies that were associated with mercantilist doctrine. By 1860 England had removed the last vestiges of the mercantile era. Industrial regulations, monopolies, and tariffs were abolished, and emigration and machinery exports were freed. In large part because of its FREE TRADE policies, England became the dominant economic power in Europe. England s success as a manufacturing and financial power, coupled with the United States as an emerging agricultural powerhouse, led to the resumption of protectionist pressures in Europe and the arms race between Germany, France, and England that ultimately resulted in World War I. PROTECTIONISM remained important in the interwar period. World War I had destroyed the international monetary system based on the GOLD STANDARD. After the war, manipulation of the exchange rate was added to governments lists of trade weapons. A country could simultaneously lower the international prices of its exports and increase the local currency price of its imports by devaluing its currency against the currencies of its trading partners. This competitive devaluation was practiced by many countries during the GREAT DEPRESSION of the 1930s and led to a sharp reduction in world trade. A number of factors led to the reemergence of mercantilist policies after World War II. The Great Depression created doubts about the efficacy and stability of free-market economies, and an emerging body of economic thought ranging from Keynesian countercyclical policies to Marxist

centrally planned systems created a new role for governments in the control of economic affairs. In addition, the wartime partnership between government and industry in the United States created a relationship the military-industrial complex, in Dwight D. Eisenhower s words that also encouraged activist government policies. In Europe, the shortage of dollars after the war induced governments to restrict imports and negotiate bilateral trading agreements to economize on scarce FOREIGN EXCHANGE resources. These policies severely restricted the volume of intra-Europe trade and impeded the recovery process in Europe in the immediate postwar period. The economic strength of the United States, however, provided the stability that permitted the world to emerge from the postwar chaos into a new era of prosperity and growth. The Marshall Plan provided American resources that overcame the most acute dollar shortages. The Bretton Woods agreement established a new system of relatively stable exchange rates that encouraged the free flow of goods and capital. Finally, the signing of the GATT (General Agreement on Tariffs and Trade) in 1947 marked the official recognition of the need to establish an international order of multilateral free trade. The mercantilist era has passed. Modern economists accept Adam Smith s insight that free trade leads to international specialization of labor and, usually, to greater economic well-being for all nations. But some mercantilist policies continue to exist. Indeed, the surge of protectionist sentiment that began with the oil crisis in the mid-1970s and expanded with the global recession of the early 1980s has led some economists to label the modern pro-export, anti-import attitude neomercantilism. Since the GATT went into effect in 1948, eight rounds of multilateral trade negotiations have resulted in a significant liberalization of trade in manufactured goods, the signing of the General Agreement on Trade in Services (GATS) in 1994, and the establishment of the World Trade Organization (WTO) to enforce the agreed-on rules of INTERNATIONAL TRADE. Yet numerous exceptions exist, giving rise to discriminatory antidumping actions, countervailing duties, and emergency safeguard measures when imports suddenly threaten to disrupt or unfairly compete with a domestic industry. Agricultural trade is still heavily protected by quotas, subsidies, and tariffs, and is a key topic on the agenda of the ninth (Doha) round of negotiations. And cabotage laws, such as the U.S. Jones Act, enacted in 1920 and successfully defended against liberalizing reform in the 1990s, are the modern counterpart of England s Navigation Laws. The Jones Act requires all ships carrying cargo between U.S. ports to be U.S. built, owned, and documented. Modern mercantilist practices arise from the same source as the mercantilist policies of the sixteenth through eighteenth centuries. Groups with political power use that power to secure government intervention to protect their interests while claiming to seek benefits for the nation as a whole. In their recent interpretation of historical

mercantilism, Robert B. Ekelund and Robert D. Tollison (1997) focused on the privilege-seeking activities of monarchs and merchants. The mercantile regulations protected the privileged positions of monopolists and CARTELS, which in turn provided revenue to the monarch or state. According to this interpretation, the reason England was so prosperous during the mercantilist era was that mercantilism was not well enforced. Parliament and the common-law judges competed with the monarchy and royal courts to share in the MONOPOLY or cartel PROFITS created by mercantilist restrictions on trade. This made it less worthwhile to seek, and to enforce, mercantilist restrictions. Greater monarchical power and uncertain PROPERTY RIGHTS in France and Spain, by contrast, were accompanied by slower growth and even stagnation during this period. And the various cabotage laws can be understood as an efficient tool to police the trading cartels. By this view, the establishment of the WTO will have a liberalizing effect if it succeeds in raising the costs or reducing the benefits of those seeking mercantilist profits through trade restrictions. Of the false tenets of mercantilism that remain today, the most pernicious is the idea that imports reduce domestic employment. LABOR UNIONS have used this argument to justify protection from imports originating in low-wage countries, and there has been much political and media debate about the implications of offshoring of service sector jobs for national employment. Many opponents have claimed that offshoring of services puts U.S. jobs at risk. While it does threaten some U.S. jobs, it puts no jobs at risk in the aggregate, however, but simply causes a reallocation of jobs among industries. Another mercantilist view that persists today is that a current account deficit is bad. When a country runs a current account deficit, it is either borrowing from or selling assets to the rest of the world to finance expenditure on imports in excess of export revenue. However, even when this results in an increase of net foreign indebtedness, and associated future debtservicing requirements, it will promote economic wealth if the spending is for productive purposes that yield a greater return than is forgone on the assets exchanged to finance the spending. Many developing countries with high rates of return on capital have run current account deficits for extremely long periods while enjoying rapid growth and solvency. The United States was one of these for a large part of the nineteenth century, borrowing from English investors to build railroads (see INTERNATIONAL CAPITAL FLOWS). Furthermore, persistent surpluses may primarily reflect a lack of viable INVESTMENT opportunities at home or a growing demand for money in a rapidly developing country, and not a mercantile accumulation of international reserves at the expense of the trading partners.

a positive balance of trade. That is, in order to remain economically and politically viable a country must export more than it imports. Such a positive balance of trade, according to mercantilist thought, results in a surplus of gold in the practicing country's treasury. Although not a proponent of mercantilism, noted 18th century Scottish economist Adam Smith (1723-1790) was responsible for coining the term "mercantile system." Mercantilism was in opposition to Smith's concepts of free trade, free enterprise, and the free movement of people and goods. In other words, it went against the precepts of a laissez-faire economy. One of the key assertions of mercantilism is that national wealth will come through the import and accumulation of gold or other precious metals such as silver. Smith was highly critical of this theory of wealth and he clearly understood the class bias in the merchant system that supported it. In fact, Smith expressed great concern about colonialism and the monopoly trade routes instituted by the merchant class, which often worked against the economic interests of the citizenry. Mercantilism as an economic system is generally held in low regard today. Japan, however, with its structural barriers to foreign competition and its discouragement of foreign direct investment has been accused of practicing a late 20th century form of mercantilism. Mercantilism as a historical period has been associated with the rise of a particular form of European capitalism often referred to as merchant capitalism. Mercantilism was also a doctrine advanced by various economic writers of the period, who tended to call for a powerful alliance between merchants and the monarchial system, which was then in decline. The term mercantilism is often used today to describe protectionist trade policies which, when coupled with other government policies, directly or indirectly subsidize particular industries in order to gain national or regional trade advantage. Japan, as stated above, is a late 20th century example of such policies. Mercantilism has thus come to be associated with nationalistic economic policies and is shunned by free trade advocates who argue for minimal state interference in the domestic and international marketplace. The mercantile system advocated various nationalistic trade policies thought to enhance the wealth of the respective nation. This wealth was to be achieved via mercantilism's five essential elements, as noted in the work of writer David L. Sills: y y Nationalism and policy go hand in hand, with all policy being directed towards nationalism. Foreign trade should always be thought of in terms of its effect on the country's stock of precious metals. Lacking domestic gold or silver mines, these precious metals must be accumulated by an excess of exports over imports.

Mercantilism is a political and economic system that arose in the 17th and 18th centuries. It purports that a country's economic strength is directly related to the maintenance of

Government trade authorities, through policy, should strive to restrict imports and encourage exports. Economic foreign policy and political foreign policy should be coordinated toward the achievement of these ends.

While most closely associated with 18th century Europe, the term mercantilism has also been used to refer to the general principle of the aggrandizement of state power for the economic gain of its capitalist class by manipulating and controlling trade. During colonial times, for example, this took the form of military control over trade routes, large tariffs on imported goods (especially manufactured products), and outright plundering of colonies in pursuit of gold and raw materials. The rationale for mercantilist practices, aside from the imperatives of empire and colonial conquest, was reflected in 18th century notions of the origin of profit and the nature of exchange. From a merchant's perspective, profit originated from "buying cheap and selling dear." While this is the goal of any for-profit entity, mercantilists applied this view to the nation as a whole. This is in contrast to the sacred belief of marketplace ideology held by classical economists that exchange should be made on the basis of equivalents. Mercantilists believed, moreover, that the seller gains via the buyer's loss. Therefore, a nation will only become richer if it exports or sells more than it imports or buys. Gold or other "money commodities" will thus be amassed to the benefit of the state. The view that profit or surplus originates in the unequal exchange of commodities was therefore perfectly consistent with the mercantilist policy of controlling the terms of trade. Mercantilism played an important but not necessarily dominant role in the transition from feudalism to industrial capitalism. Mercantilism, however, did greatly benefit large merchant enterprises such as the British East India Company, which shipped home goods over trade routes protected and maintained by the state. Foreign trade was thought to be necessary for the accumulation of gold because domestic trade could not generate a net surplus or profit. Armed with this view of the origin of profits, merchants promoted exports as a necessary means of gaining surplus profits. Like all good policy makers, the merchants argued that this policy would in turn benefit the state as a whole. Policies to these ends involved state subsidies of export industries; high tariff walls to encourage home production; a prohibition on the sale of gold to foreigners; subsidization of key industries when necessary; control over certain types of capital; and the relentless import of gold and raw materials from colonies. Most of these policies involved strict control over trade routes and the stabilization of prices by state fiat. During the mercantilist period, merchants controlled the trading system but not the production of goods and

services. Before the advent of industrial capitalism, production was along the line of a crafts system, which embodied remnants of the old feudal order. As industrial capitalism emerged the power of the merchant class declined. Merchants would eventually come to see that taking over or being more involved in the means of production would enhance their profits by giving them control over the productivity of labor. For the most part, however, merchants did not control the means of production, as their primary concern was buying and selling. Mercantilist policies encouraged the importation of raw materials, which in turn could be manufactured into various products. Now carrying an added value, these finished goods could subsequently be exported and sold for a high price relative to their original cost. Thus would gold ultimately find its way to the nation's treasury. The rise of the mercantile system coincided with the beginnings of capitalism in 16th and 17th century Europe. By this time Spain, France, and the low countries of Belgium and Holland had been transformed into merchant-dominated economies. Concurrently, modern nation-states were emerging as a political complement of the merchant economy. It was this coalition of merchants and monarchs that eventually led to the dissolution of the old feudal order. A system evolved that was instead regulated by a competitive labor market. This led to the eventual formation of a class of people who found themselves free from feudal ties to the land only to be forced to sell their labor in order to ensure subsistence. Also emerging was a class of industrial and manufacturing entrepreneurs who were "recruited" from the now declining merchant class. The merchant class eventually gave way and lost control of the new economic order to the emerging forces of capitalist competition where price and profits were regulated by the production and accumulation of capital. While trading was essential to the emerging industrial capitalist system, transactions were seen as merely a sharing out of the total selling price among the buyers and purchasers, including the merchant. The mercantile idea that trade led to profits for the system as a whole gave way to the classical economist's view that production and the reinvestment of profit was the true source of a nation's wealth. In addition to the shift in focus from trading to production, the new social and economic dynamic of capital accumulation, in turn, led to devastating critiques of the mercantilist doctrine by English classical economists, such as Adam Smith, and the French Physiocrats. Mercantilist doctrine was pushed aside by the doctrine of comparative advantage which enshrined the idea that free and open trade would be the most beneficial system for all who participate. While the general perception of mercantilism is one of a long cohesive chapter in the history of economic thought, mercantilist authors were typically business and

professional people who haphazardly wrote and made known their thoughts long before economics came to be an academic discipline. To paraphrase one writer of the time, merchants were proselytizing and pamphleteering men of affairs, rather than philosophers, and had no pretensions to science. This is in contrast to their antecedents, such as Italian religious and philosopher Thomas Aquinas (1225-1274), who sought to understand a just or fair price. Most representative of mercantilist writings were the French and English writers of the 17th century. These eminently practical thinkers sought the order, protection, and stability that was essential for the expansion of their activities, which in turn would benefit the state. In exchange for military protection of their trading routes, they often succeeded in gaining monopolistic subsidization from the crown while the state expanded its material means for colonization. Wealth accrued to both the state and the merchant elite in the form of gold and various raw materials to which value could be added and then exported in the form of finished goods. Mercantilists viewed production as being important only in so far as it led to an export surplus. While the merchant class was far from cohesive, disagreements about policy within the merchant class were subservient to the aims of the common goal of expanding the trade surplus. Mercantilists vigorously encouraged exports, except machinery and plant and equipment that might aid foreign competitors. They also discouraged imports, except raw materials and of course precious metals. The colonies, including the Americas, served as a prime export market and a source of tax revenue, military bases, and of course a source of gold, silver, and raw materials. A strong navy and a military war machine was vital to the implementation and maintenance of these policies. As production became relatively more important, capitalists realized that by controlling production, it would be possible to cut costs, raise productivity, and undercut competitors by lowering prices. This line of reasoning led economists such as Adam Smith to reject the idea that gold (i.e., money) constituted wealth. In a powerful critique of mercantilists, Smith pointed out that money merely reflected the wealth produced by production while expressing the value of commodities and services offered in the marketplace. Furthermore, struggles between merchants over trade monopolies and prices fostered conflict to the detriment of all concerned. Merchants as a class were thus compelled to become full-fledged capitalists or fade into the newly emerging working class. The many criticisms of mercantilism culminated in a devastating critique known as the specie-flow mechanism. Scottish philosopher and political economist David Hume (1711-1776) pointed out that the very success of a nation's mercantilist policies a trade surplus would set in motion forces that would tend to reverse the trade surplus, all through the normal operation of markets. Allowing for

the free flow of money, at this time mostly gold, it was argued, would tend to result in a balance of trade equilibrium. While Hume's specie-flow mechanism is the most well known critique of mercantilist thought, opposition to mercantilist thinking began as early as the late 17th century. The main idea here was that the very success of mercantilist policies would trigger unintended consequences. As argued by Hume and others, a positive trade balance implies a positive net flow of money, because more money is coming in than going out. A situation would soon evolve where too much money is chasing too few goods, as the system is operating at full capacity and money is not generally hoarded but kept in circulation. The only logical effect of this is a rise in prices. In deficit countries, as opposed to the mercantilist surplus countries, money is flowing out, which results in falling prices. The deficit countries will thus become more competitive over time and trade will shift their way resulting in a trade equilibrium. This doctrine later became known as the quantity theory of money. In terms of its historical influence, mercantilist policy accelerated the breakup of the feudal economy and the guild crafts system of production. State policy and the merchant system complemented one another. The main objective was to foster growth of foreign trade (along with shipping and export industries such as textiles) while encouraging the inflow of precious metals and raw materials to which value could be added for export. Mercantilism thus served to accelerate the transition of Europe from a land-based economy to a monetary economy. Although pure mercantilism is a dead economic issue today, vestiges of it remain. As author and historian Paul Johnson wrote in Commentary, "To trade freely is not a human natural propensity."

Read more: Mercantilism http://www.referenceforbusiness.com/encyclopedia/ Man-Mix/Mercantilism.html#ixzz1k3xoY92u http://www.econlib.org/library/Enc/Mercantilism.ht ml http://www.merriamwebster.com/dictionary/mercantilism

Sunadokei (Hourglass)

Sunadokei - TegoMass
Oto no nai sayonara ni wa Setsunasa ga nijinde Kimi ga senaka wo muketa sono toki Namida ga kyuu ni koboreta Soshite toori nukerarenai meiro no naka ni Kimi wo sagasu Kokoro wa doko made Itami wo seoreru darou? Sunadokei wa Saigo no hitotsubu dake Mada sukoshi tameratteru Shinjiteta kimi to deai Koi wo shita kimochi wo Sore igai ni wa nanimo iranai Sore ga subete to omotteta Nazeka taisetsu ni omou mono Kizutsuketetari, kizutsuiteru Wasurete shimaeba Donnani raku nandarou? Sunadokei wa Saigo no hitotsubu dake Mada sukoshi tamerau kedo Kokoro wa doko made Itami wo seoeru darou? Sunadokei wa Saigo no hitotsubu dake Mada sukoshi tameratteru Itsumademo tameratteru

English
I wish time would just pass like this With nothing changing I don't want to notice That everything's being tested, even my freedom It surely comes to everyone, without exception Even if I entrust my body to the maze The disappearing scenery Taught me that We're side by side Make on break, make amends And then it's all gone The answer that fell from the sky was an hourglass Though there will be no miracles I just turn my eyes From the too-horrible end Wishing for happiness brings tragedy A smile in exchange for sorrow The peace I stole is now a false paradise Like a hypocrite Hold your breath, hold your peace It's time to make or break To protect the ones we love We hurt someone else Will everything be forgiven If people don't notice the sins we commit? Until God's judgement The answer is an hourglass spilling into my hand I knew from the beginning, if I could have All of my unquenchable desires The endless sorrow would repeat And all would be lost Until God's judgement

Lyrics of Price Tag Jessie J

[Jessie J] Seems like everybody s got a price, I wonder how they sleep at night. When the sale comes first, And the truth comes second, Just stop, for a minute and Smile Why is everybody so serious! Acting so damn mysterious You got your shades on your eyes And your heels so high That you can t even have a good time. [Pre-chorus] Everybody look to their left (yeah) Everybody look to their right (ha) Can you feel that (yeah) We re paying with love tonight [Chorus] It s not about the money, money, money We don t need your money, money, money We just wanna make the world dance, Forget about the Price Tag Ain t about the (uh) Cha-Ching Cha-Ching. Aint about the (yeah) Ba-Bling Ba-Bling Wanna make the world dance, Forget about the Price Tag. [Jessie J - Verse 2] We need to take it back in time, When music made us all UNITE! And it wasn t low blows and video hoes, Am I the only one gettin tired? Why is everybody so obsessed? Money can t buy us happiness Can we all slow down and enjoy right now Guarantee we ll be feeling Alright. [Pre-chorus] Everybody look to their left (yeah) Everybody look to their right (ha) Can you feel that (yeah) We re paying with love tonight [Chorus]

It s not about the money, money, money We don t need your money, money, money We just wanna make the world dance, Forget about the Price Tag Ain t about the (uh) Cha-Ching Cha-Ching. Aint about the (yeah) Ba-Bling Ba-Bling Wanna make the world dance, Forget about the Price Tag. [B.o.B] Yeah yeah well, keep the price tag and take the cash back just give me six strings and a half step. and you can keep the cars leave me the garage and all I.. yes all I need are keys and guitars and guess what, in 30 seconds I m leaving to Mars yes we leaving across these undefeatable odds its like this man, you can t put a price on the life we do this for the love so we fight and sacrifice everynight so we aint gon stumble and fall never waiting to see, a sign of defeat uh uh so we gon keep everyone moving their feet so bring back the beat and everybody sing it s not about [Chorus] It s not about the money, money, money We don t need your money, money, money We just wanna make the world dance, Forget about the Price Tag Ain t about the (uh) Cha-Ching Cha-Ching. Aint about the (yeah) Ba-Bling Ba-Bling Wanna make the world dance, Forget about the Price Tag. It s not about the money, money, money We don t need your money, money, money We just wanna make the world dance, Forget about the Price Tag Ain t about the (uh) Cha-Ching Cha-Ching. Aint about the (yeah) Ba-Bling Ba-Bling Wanna make the world dance, Forget about the Price Tag. [Jessie J -Outro] Yeah, yeah

Oo-oooh Forget about the price tag.

Sparks Fly
The way you move is like a full on rainstorm And I'm a house of cards You say my name for the first time, baby, and I Fall in love in an empty bar And you stood there in front of me just Close enough to touch Close enough to hope you couldn't see What I was thinking of Drop everything now Meet me in the pouring rain Kiss me on the sidewalk Take away the pain 'Cause I see, sparks fly whenever you smile Get me with those green eyes, baby As the lights go down Something that'll haunt me when you're not around 'Cause I see, sparks fly whenever you smile So reach out open handed And lead me out to that floor Well, I don't need more paper lanterns Take me down, baby bring on the movie star 'Cause my heart is beating fast And you are beautiful I could wait patiently But I really wish you would Drop everything now [ From : http://www.elyrics.net/read/t/taylor-swiftlyrics/sparks-fly-lyrics.html ] Meet me in the pouring rain Kiss me on the sidewalk Take away the pain 'Cause I see, sparks fly whenever you smile Get me with those green eyes, baby As the lights go down Something that'll haunt me when you're not around 'Cause I see, sparks fly whenever you smile I run my fingers through your hair And watch the lights go out Just keep your beautiful eyes on me Gonna strike this match tonight

Lead me up the staircase Won't you whisper soft and slow I'd love to hate it But you make it like a fireworks show Drop everything now Meet me in the pouring rain Kiss me on the sidewalk Take away the pain 'Cause I see, sparks fly whenever you smile Get me with those green eyes, baby As the lights go down Something that'll haunt me when you're not around 'Cause I see, sparks fly whenever you smile Sparks fly, baby smile, sparks fly

Mean You, with your words like knives and swords and weapons that you use against me You have knocked me off my feet again got me feeling like I'm nothing You, with your voice like nails on a chalkboard, calling me out when I'm wounded You, pickin' on the weaker man Well, you can take me down with just one single blow But you don't know what you don't know Someday I'll be living in a big old city And all you're ever gonna be is mean Someday I'll be big enough so you can't hit me And all you're ever gonna be is mean Why you gotta be so mean? You, with your switching sides and your walk-by lies and your humiliation You, have pointed out my flaws again as if I don't already see them I'll walk with my head down trying to block you out 'cause I'll never impress you I just wanna feel okay again I'll bet you got pushed around, somebody made you

cold But the cycle ends right now 'cause you can't lead me down that road And you don't know what you don't know Someday I'll be living in a big old city [ From: http://www.elyrics.net/read/t/taylor-swiftlyrics/mean-lyrics.html ] And all you're ever gonna be is mean Someday I'll be big enough so you can't hit me And all you're ever gonna be is mean Why you gotta be so mean? And I can see you years from now in a bar, talking over a football game With that same big loud opinion but nobody's listening Washed up and ranting about the same old bitter things Drunk and grumbling on about how I can't sing But all you are is mean All you are is mean and a liar and pathetic and alone in life And mean, and mean, and mean, and mean But someday I'll be living in a big old city And all you're ever gonna be is mean, yeah Someday, I'll be big enough so you can't hit me And all you're ever gonna be is mean Why you gotta be so mean? Someday, I'll be, living in a big old city (Why you gotta be so mean?) And all you're ever gonna be is mean (Why you gotta be so mean?) Someday, I'll be big enough so you can't hit me (Why you gotta be so mean?) And all you're ever gonna be is mean Why you gotta be so mean?

What makes you beautiful

You're insecure Don't know what for You're turning heads when you walk through the door Don't need make up To cover up Being the way that you are is enough Everyone else in the room can see it Everyone else but you [Chorus] Baby you light up my world like nobody else The way that you flip your hair gets me overwhelmed But when you smile at the ground it aint hard to tell You don't know Oh Oh You don't know you're beautiful If only you saw what I can see You'll understand why I want you so desperately Right now I'm looking at you and I can't believe You don't know Oh oh You don't know you're beautiful Oh oh But that's what makes you beautiful So c-come on You got it wrong To prove I'm right I put it in a song I don't know why You're being shy And turn away when I look into your eyes Everyone else in the room can see it Everyone else but you [Chorus] Baby you light up my world like nobody else The way that you flip your hair gets me overwhelmed But when you smile at the ground it aint hard to tell You don't know One Direction What Makes You Beautiful lyrics found on http://www.directlyrics.com/one-direction-what-

makes-you-beautiful-lyrics.html Oh oh You don't know you're beautiful If only you saw what I can see You'll understand why I want you so desperately Right now I'm looking at you and I can't believe You don't know Oh oh You don't know you're beautiful Oh oh But that's what makes you beautiful [Bridge] Nana Nana Nana Nana Nana Nana Nana Nana Nana Nana Nana Nana Baby you light up my world like nobody else The way that you flip your hair gets me overwhelmed But when you smile at the ground it aint hard to tell You don't know Oh Oh You don't know you're beautiful [Chorus] Baby you light up my world like nobody else The way that you flip your hair gets me overwhelmed But when you smile at the ground it aint hard to tell You don't know Oh oh You don't know you're beautiful If only you saw what I can see You'll understand why I want you so desperately Right now I'm looking at you and I can't believe You don't know Oh Oh You don't know you're beautiful Oh oh You don't know you're beautiful Oh oh But that's what makes you beautiful

Marry your daughter

Sir, I'm a bit nervous About being here today Still not real sure what I'm going to say So bare with me please If I take up too much of your time. See in this box is a ring for your oldest. She's my everything and all that I know is It would be such a relief if I knew that we were on the same side Cause very soon I'm hoping that I... Can marry your daughter And make her my wife I want her to be the only girl that I love for the rest of my life And give her the best of me 'til the day that I die, yeah I'm gonna marry your princess And make her my queen She'll be the most beautiful bride that I've ever seen I can't wait to smile When she walks down the aisle On the arm of her father On the day that I marry your daughter [ Lyrics from: http://www.lyricsmode.com/lyrics/b/bria n_mcknight/marry_your_daughter.html ] She's been here every step Since the day that we met (I'm scared to death to think of what would happen if she ever left) So don't you ever worry about me ever treating her bad I've got most of my vows done so far (So bring on the better or worse) And 'til death do us part There's no doubt in my mind It's time I'm ready to start I swear to you with all of my heart... I'm gonna marry your daughter And make her my wife I want her to be the only girl that I love for the rest of my life

And give her the best of me 'til the day that I die, yeah I'm gonna marry your princess And make her my queen She'll be the most beautiful bride that I've ever seen I can't wait to smile As she walks down the aisle On the arm of her father On the day that I marry your daughter The first time I saw her I swear I knew that I'd say I do I'm gonna marry your daughter And make her my wife I want her to be the only girl that I love for the rest of my life And give her the best of me 'till the day that I die I'm gonna marry your princess And make her my queen She'll be the most beautiful bride that I've ever seen I can't wait to smile As she walks down the aisle On the arm of her father On the day that I marry your daughter

You just do you and imma do me(all day) Dudes love to hate so they try to screw me Females be stuck to me I think they tryna glue me I make the party shine bright when it start to gloomin Dis beat was bubble gum so I had to chew it Teach me how to dougie T-teach me how to dougie Teach me how to dougie T-teach me how to dougie Everybody love me Everybody love me Everybody love me You aint messin wit my dougie! My name is young! For da dudes who dont know me I know Im from da west but I can teach you how to dougie! Step up in da club and all these girls bug me All da niggas dancin and none of them know me I hear da crowd screamin like aye! get it brody! So Im on my and I take it real low Dey like how we do dat? he can dougie on the floor And when ya boy stop they like dougie somemore! Im like your boy kinda tired and, I pass it to da bro! M-bone! show these cats how to do dat down south dance Dat we learned a lil too fastand bought it to da hood And got da whole crew askin Teach me how to dougie T-teach me how to dougie Teach me how to dougie T-teach me how to dougie Everybody love me Everybody love me Everybody love me You aint messin wit my dougie! Teach me how to dougie T-teach me how to dougie Teach me how to dougie T-teach me how to dougie Everybody love me Everybody love me Everybody love me You aint messin wit my dougie!

Teach how to dougie

Aye! aye! Teach me how to dougie (aye!) They be like smooth (what?) Can you teach me how to dougie? You know why? Cause all da girls love me (aye) All I need is a beat thats super bumpin And for you, you, and you to back it up and dump it! Put your arms out front, lean side to side They gonna be on you when they see you hit dat dougie right? Aint nobody gettin wit my bro from morningside He go by bubba and he hit dat dance wit thunder I aint from dallas but I d-town boogie I show my moves off and everybody tryna do me I leave da function and all da ladies tryna screw me

Back of the party ion really like to boogie Im just tryna get bent and meet a thick redbone (Mmm) she do her dougie and everyboy hatin but Im bout To act a skateboard a bitch and head home(fuck it) She bout to dougie and hit wit 2 hands And I run it run it even if her legs long She like you my hubby and I think she love me but, I change then subject and I do my dougie But, ion give a fuck, blow trees, get money Leave 2 heifers feinin like sum playboy bunnies Dey gon make us do da dougie in da middle of da dance And when I asked for some head da bitch looked at me funny Bye! bitch you cant tell me nothin starr baked da beat And I just took it out the oven, I just hit the dougie when everybody Clubbin and I hate skinny jeans cuz da burner keep rubbin! (oh! )

Sa marami pang tagumpay Repeat Chorus Patuloy ang Pangarap...

Patuloy ang Pangarap

'Di pa rin makapaniwala Sa lahat ng nangyari Pangarap parang kailan lang Sa panaginip ko'y nakita Ngayon ay dumating ng bigla sa aking buhay Di naubusan ng pagasa ako'y nanalis sa Chorus: Isang Pangarap, ako'y naniniwala Ako ay lilipad at ang lahat makakakita Sa isang pangarap ako'y naniniwala Hindi ako titigil hangga't aking makakaya Unti-unting mararating, tagumpay ko'y makikita (From: http://www.elyrics.net/read/a/angeline-quintolyrics/patuloy-ang-pangarap-lyrics.html) Patuloy ang pangarap pangarap 'Di pa makapaniwala sa aking nakikita Lahat ng panalangin ko, ngayon may kasagutan Lahat ng pinagdaanan at pinaghirapan Nagbigay ng kalakasan upang marating ang.. Repeat Chorus Kahit saan, kahit kailan Alam kong ako'y patungo