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Does Mercantilism have a Place in the Modern World?

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Mercantilism is a bankrupt theory and has no place in the modern world. Do you agree or disagree? Defend your position.

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I disagree with the statement that mercantilism is a bankrupt theory and has no place in the modern world, largely due to the fact that it is very important for modern countries to have a positive trade balance that is as much in their favor as possible in order to maintain their economic security etc. ...

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