{"id":41484,"date":"2020-03-06T01:00:08","date_gmt":"2020-03-06T06:00:08","guid":{"rendered":"http:\/\/quotulatiousness.ca\/blog\/?p=41484"},"modified":"2020-03-05T09:43:25","modified_gmt":"2020-03-05T14:43:25","slug":"qotd-mercantilism-3","status":"publish","type":"post","link":"https:\/\/quotulatiousness.ca\/blog\/2020\/03\/06\/qotd-mercantilism-3\/","title":{"rendered":"QotD: Mercantilism"},"content":{"rendered":"<blockquote><p><a href=\"https:\/\/quotulatiousness.ca\/blog\/wp-content\/uploads\/2019\/06\/QotD-thumbnail-400x400.png\"><img loading=\"lazy\" decoding=\"async\" style=\"float:left; padding: 0px 15px 0px 0px\" src=\"https:\/\/quotulatiousness.ca\/blog\/wp-content\/uploads\/2019\/06\/QotD-thumbnail-400x400.png\" alt=\"\" width=\"400\" height=\"400\" class=\"alignleft size-full wp-image-48672\" srcset=\"https:\/\/quotulatiousness.ca\/blog\/wp-content\/uploads\/2019\/06\/QotD-thumbnail-400x400.png 400w, https:\/\/quotulatiousness.ca\/blog\/wp-content\/uploads\/2019\/06\/QotD-thumbnail-400x400-150x150.png 150w, https:\/\/quotulatiousness.ca\/blog\/wp-content\/uploads\/2019\/06\/QotD-thumbnail-400x400-50x50.png 50w\" sizes=\"auto, (max-width: 400px) 100vw, 400px\" \/><\/a>The &#8220;mercantile system&#8221; is [&#8230;] what we today commonly call &#8220;protectionism&#8221; or &#8220;economic nationalism.&#8221; By duping the general public into believing that the artificially promoted and protected profits and wages reaped by a handful of highly visible and politically powerful firms and workers are the same as &mdash; or are evidence of &mdash; a high standard of living for ordinary people nationwide, mercantilists convince members of the general public to accept government-imposed restrictions on their freedom to trade with foreigners. More succinctly, protectionists pull off the rather amazing feat of convincing ordinary people that their standard of living rises when government artificially increases the scarcity of the goods and services that they wish to consume.<\/p>\n<p>Don Boudreaux, <a href=\"http:\/\/cafehayek.com\/2017\/12\/quotation-of-the-day-2288.html\" rel=\"noopener noreferrer\" target=\"_blank\">&#8220;Quotation of the Day\u2026&#8221;, <em>Caf\u00e9 Hayek<\/em><\/a>, 2017-12-17.<\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"<p>The &#8220;mercantile system&#8221; is [&#8230;] what we today commonly call &#8220;protectionism&#8221; or &#8220;economic nationalism.&#8221; By duping the general public into believing that the artificially promoted and protected profits and wages reaped by a handful of highly visible and politically powerful firms and workers are the same as &mdash; or are evidence of &mdash; a high [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":35193,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[25,84,7,41],"tags":[727,410,266,1185],"class_list":["post-41484","post","type-post","status-publish","format-standard","hentry","category-economics","category-government","category-history","category-quotations","tag-cronycapitalism","tag-mercantilism","tag-protectionism","tag-tariffs"],"jetpack_featured_media_url":"https:\/\/quotulatiousness.ca\/blog\/wp-content\/uploads\/2016\/06\/favicon.png","jetpack_shortlink":"https:\/\/wp.me\/p2hpV6-aN6","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/posts\/41484","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/comments?post=41484"}],"version-history":[{"count":4,"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/posts\/41484\/revisions"}],"predecessor-version":[{"id":55471,"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/posts\/41484\/revisions\/55471"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/media\/35193"}],"wp:attachment":[{"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/media?parent=41484"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/categories?post=41484"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/tags?post=41484"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}