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Hello, between the 16th and 18th centuries, Europe was dominated by an economic way of

thinking called Macantalism.

The key idea in Macantalism is that exports should be as high as possible and imports minimized.

For more than 300 years, almost every rural and political thing was a Macantalist.

Eventually, Adam Smith, in his groundbreaking work The World of Nations 1776, and other

economists declared that it was a flawed concept and it became discredited.

However, a Macantalist economic approach can still be found in modern times and in today's

politicians sometimes still use rhetoric related to Macantalism.

The major discuss Macantalism are Demarice Kaufmann, Professor in Economics and Finance

of the Built Environment at University of London.

Craig Moldrew, Professor of Social and Economic History at the University of Cambridge

and the Member of Green's College.

And Helen Paul, lecturer in Economics and Economic History at the University of South

Houghton.

Helen, in general, what type of policies the government implement when they pursue Macantalism?

They try to restrict trade so they do all kinds of things to increase exports and to decrease

imports and that could be setting up a regulatory body like a board of trade.

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