Summary of Capitulo II. El mercantilismo.

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The video discusses the mercantilist philosophy and its impact on the world economy. The main points of the philosophy are that the state should interfere in the economy to help businesses flourish, protect industry, and increase the country's gold and silver reserves. The video also discusses the impact of this philosophy on the economy in the modern world.

  • 00:00:00 In this video, Raúl, Charlie, and Blanquirrojas discuss the differences between their respective types of bicycles. Raúl argues that Argentine bicycles are less affordable than Chinese bicycles because China produces millions of bicycles. This allows for reduced costs for each bicycle, and also lower wages in China compared to Argentina. In Argentina, however, Chinese bicycles are more popular than national ones. However, if Argentina imposed a tariff on imported bicycles, this would limit the flow of foreign investment and lead to a less prosperous society. The mercantilist school of thought is a collection of economic proposals that are disparate and unconnected. It begins to develop in Europe during a time of political and social changes, including the Protestant Reformation. These thinkers consider commerce to be the engine of progress, and break from moral and religious norms of the Middle Ages. The mercantilists are great merchant autodidacts, members of the court or functionaries of colonial trading companies, with primary concerns focused on determining how to increase the power and wealth of their respective kingdoms. Their interests lie in understanding how to increase the profits of capitalists, and this is achieved by expanding agricultural production, which in turn leads to a permanent surplus of production that is beginning to be commercialized.
  • 00:05:00 The video discusses how merchants in 17th century Spain attempt to bring products from other countries to sell in their own country. They do this by using shipping and trade routes to connect producers of different goods with buyers. This is the place to find the rarest spices the king has asked for, I'm sure. We must try to do this for the good of all. Additionally, we must arrive at those ports before the Dutch do. Someone has checked the weather forecast. Storms are looming, and someone has checked it in Uruguay. Ertzainas is still afraid of storms. That is not as important, we will get it done. Besides, I like people who walk. 209 elephants will resist. To call another elephant, we are running out of time. Wealth with water, take the enclosure and go to the bathroom. Merchant and sailor think about all the things he/she can buy, but a respected and rich man maybe enjoys a lunch with Mirtha Legrand and all the women he/she always wanted. They are the farmer, the artisan, the feudal lord and the merchant. The farmer, descendant of the deer system of feudalism, has managed to cultivate larger areas than his grandfather thanks to modest technological advances. His work now generates a
  • 00:10:00 This video discusses the benefits and drawbacks of mercantilism, which is a policy of promoting domestic production of goods that are in high demand by the monarchy and upper classes. The policy of mercantilism is based on the principle that it is better to sell goods abroad than to buy them from other countries, as this creates a balance of trade that is beneficial to the kingdom. In order to maintain a positive balance of trade, mercantilists encourage the production of goods domestically, regulating the influx of foreign goods. Protectionism is understood as the defense of national production and the regulation of the importation of goods. It seeks to reduce the amount of imports by substituting domestic production of goods, as we saw in the case of the local production of luxury items like tapestries or crystal. Protectionism also encourages the sale of domestic products at a higher price than the materials used to make them, generating even more wealth and increasing exports even more. It is therefore important for mercantilists to protect the national industry by regulating the importation of foreign goods.
  • 00:15:00 In this video, the importance of mercantilism is discussed, as well as the changes it brought about in the world. It is stated that, in order to be successful, countries need to have a well-developed economy, including industries such as luxury ones. It is also mentioned that, in order to achieve this, it is necessary to develop colonies and make them commercially viable to France. This is not done by having a lot of gold and silver, or by the quantity of jewels and pearls, but by achieving the necessary goods for life. A series of factors, such as reducing production costs using technologies, lower Chinese wages, the bicycle industry in France and America being cheaper, and Brazil's inability to compete with China, have led to Argentine bicycle manufacturers being unable to grow and even survive. This has led the Argentine government to impose an import tax on imported bikes, called the tariff, which has caused some Argentine cyclists to switch to Chinese brands, due to the higher prices of the Brazilian bikes. The capitalist merchants have become increasingly powerful, by incorporating new markets and starting to get upset that the feudal lords establish their own rules in each domain. They start to promote unification of markets, by themselves, by incorporating extensive territories. This leads to true modern states
  • 00:20:00 The video discusses the mercantilist philosophy, which is based on the idea that a country should increase its trade and wealth in order to secure its power and status in the world. The main points of the philosophy are that the state should interfere in the economy to help businesses flourish, protect industry, and increase the country's gold and silver reserves. The video also discusses the impact of this philosophy on the economy in the modern world.

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