THE NEW NEO‐MERCANTILISM: CURRENCY MANIPULATION AS A FORM OF PROTECTIONISM |
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| Authors: | Paul F. Cwik |
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| Affiliation: | Mount Olive College, North Carolina, USA |
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| Abstract: | Three waves of mercantilism have arisen in the past few centuries. The first wave was countered by the classical economists. The second wave (neo‐mercantilism) hit during the inter‐war period. Today's third wave uses monetary policy. We explore the mercantilist waves and argue in favour of a free trade policy. We conclude that an international system of free banking best protects the economy from currency manipulation as a form of protectionism. |
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| Keywords: | International finance international trade interventionism mercantilism protectionism |
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