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[–] 3 points 2 years ago (1 child)

TIL that during the 16th to 19th centuries the aristocrats benefited from a "gift economy" because no one who ever says this knows what Mercantilism was.

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  • [–] 1 point 2 years ago (1 child)

    Where did I mention the 16th or 19th centuries? And mercantilism was 100% not a barter economy. It was a form of market economy controlled by the state.... so I'm pretty sure it's you who misunderstands what mercantilism is.

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  • [–] 0 points 2 years ago (1 child)

    Mercantilism was purely extractive, and thus completely immoral, I agree. However, trade does predate capitalism because capitalism was not a nominal economic system at the time and mercantilist countries traded with one another.

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