Mercantilism in the 18th century is one of the earliest systems of economic thought. Mercantilists were businessmen who were involved with domestic businesses and as such were protective of manufacturing and limited imports as much as possible, even going as far as to say that no importation should be allowed for goods that are sufficiently [...]

Many people know economics is commonly referred to as the “Dismal Science,” but why is this? Thanks to my History of Economic Ideas class, I now know why! No, it’s not because economics is boring, as many people believe this is the reason. It actually begins in the 19th century with Thomas Malthus’ Essay on [...]