Authors
Aida Ramos, Aida Ramos
Publication date
2018
Journal
Shifting Capital: Mercantilism and the Economics of the Act of Union of 1707
Pages
43-60
Publisher
Springer International Publishing
Description
This chapter explores how the writings of the three most influential mercantilist writers, Thomas Mun, Charles Davenant, and William Petty, supported the idea that Scotland was a “dependent” country that should join with England. Mun’s discussion of trade as the origin of value and authority demonstrates the notion that wealth is tied to one’s total volume of trade. Davenant’s work is pivotal in arguing for what makes a nation dependent and independent. His arguments regarding trade and national defense are applied to Scotland. Petty’s work is explored for its use of political arithmetic to justify particular policy positions and for the concept of transmutation, or how to create a union not by joining two nations together but by transforming the less productive into the more productive.
Scholar articles
A Ramos, A Ramos - Shifting Capital: Mercantilism and the Economics of the …, 2018