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History
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| Number of pages / Number of words: |
2 / 510 |
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Having raw materials is significant and this directed European countries to colonization. Raw materials were taken from colonies and processed materials were sold to them. Therefore, export was supported. However, having gold more leads inflation. In ISI model, colonization has less importance. States use their national resources or they buy them from foreign countries...
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However, having gold more leads inflation. In ISI model, colonization has less importance. States use their national resources or they buy them from foreign countries. In ISI model, inflation can be seen.
In mercantilism, having gold and silver is the most important demonstration of economic power. However, it can be said, having a good industry and service sector is demonstration for economic power...
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