it as a necessary transitional phase on
the path to modernity. Gustav Schmoller, one of the leading members of
the widely influential German Historical School of economic thinking,
2 Frank Trentmann, Free Trade Nation: Commerce, Consumption, and Civil Society
in Modern Britain (New York, 2008).
rethinking mercantilism
5
believed that from the fifteenth century through the seventeenth most
Europeans experienced “a great historical process, by which local sentiment and tradition were strengthened…
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