Social Sciences and History / Unit 6 SSH 0516 worked example, 60 to 90 seconds
Mercantilism and Its Critics: Reading a Policy Claim
The idea
The exam asks what mercantilism held and what its critics answered, and the anchor's section supplies both. Mercantilism: a nation's power depended on the wealth gained by exporting goods of greater value than it imported; a gain for one nation was a loss for another; so governments should hoard precious metals, import little, export profitably, and to that end impose tariffs, grant monopolies, subsidize industries, and acquire colonies as sources of raw materials and markets for manufactures. On that logic five nations planted American colonies, sugar the most profitable extraction. Critics: Hume and Smith charged that mercantilism caused inflation and harmed consumers. Smith argued that wealth was not finite, that all nations could prosper together, and that competition among producers, not government management, should regulate the economy.
In practice
Given "a policy that taxes imports to keep gold at home", mercantilist. Given "a colony required to buy the mother country's manufactures", mercantilist. Given "the claim that trade can enrich both parties", Smith. Given "wealth is a fixed quantity fought over", mercantilist; "wealth grows", Smith. Ask whether the claim treats trade as a contest or as growth.
Where people slip
The trap is calling mercantilism a mere error; the anchor reports conservatives who defended it as imperfect but working. The second trap is reading Smith as opposing colonies; the anchor's Smith opposes management, not commerce.
Your place on the trail
Every lesson rests on earlier ones and opens later ones. Tap any to jump.
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