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Shifting Capital - Mercantilism and the Economics of the Act of Union of 1707 (Hardcover, 1st ed. 2018)
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Shifting Capital - Mercantilism and the Economics of the Act of Union of 1707 (Hardcover, 1st ed. 2018)
Series: Palgrave Studies in the History of Economic Thought
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When the Act of Union was passed in 1707, Scottish parliament was
dissolved and the nation's capital became London. While the general
public balked at the perceived unfairness of the treaty, the
majority of Scottish ministers seemed satisfied with its terms.
This book offers an explanation of how that outcome came about. By
examining the influence of a particular strain of mercantilist
thought, Ramos demonstrates how the negotiations preceding the
passage of the Act of Union were shaped by ideas of value, wealth,
trade and power, and, accordingly, how the model of positive
balance was used to justify the necessity of the Act. Utilizing
contemporary evidence from the English and Scottish ministers
involved, this book explores alternative arguments regarding the
Union, from before 1707 and in early Scottish political economy,
thus highlighting the differing economic and political views that
have persisted between England and Scotland for centuries. With
twenty-first century discontent leading to the Scottish
independence referendum and arguments that persist in the wake of
the Brexit decision, Ramos produces timely research that
investigates ideas of protectionism that feed into mercantilist
economic thought.
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