On the record
Mercantilism, by the time of Locke, is not the simple error that wealth consists in bullion but the insistence that the balance of trade must be preserved.
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Harold J. Laski
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gutenberg.orgHarold J. Laski: “Mercantilism, by the time of Locke, is not the simple error that wealth consists in bullion but the insistence that the…”
Editor's note · Context
Laski explains that by Locke's time, mercantilism evolved beyond simple misconceptions about wealth, focusing on trade balance.
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More from Harold J. Laski
To deny novelty or grievance a right of expression is a certain, if, indeed, an ultimate, validation of the truth they contain.
He is able, accordingly, to indulge in the twofold luxury not only of preserving his own authority, but also of assisting the persons attacked to enter, if they so choose, the way of truth.
We grant toleration in one part of the field only to deny it in another.
Ultimately, that denial is always made upon the same ground: it is insisted that the doctrines or practices attacked are subversive of the civil order.
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