Mercantilist Beliefs (no particular order)

1. Wealth is fixed in amount

(getting more wealthy makes other people poorer)

2. Wealth is money

(the more you have of the dominant currency, the wealthier you are. Even if you were stranded on a desert island with a massive amount of money, you would still be wealthy)

3. All trade is zero sum

(one person’s gain is another person’s loss)

4. Import (buying to a foreign country) bad

export (selling to a foreign country good)

5. begger they neighbor

(make you neighbor poor)