"...this country was founded on mercantilism" Mike Malloy

Michael from Glens Falls, NY was given the "red ass" when he said that America was founded on capitalism and Mike colorfully told him that it was Agrarian mercantilism and not capitalism

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News & Politics

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• Malloy
• agrarian
• mercantilism
• mikemalloy.com
• capitalism

[Surmar01]

Mercantilism, though at the time was popular among the various nations, and was the enviroment in which the U.S. was founded, the idea that Man has a Right to his Property, and that he can use it as he sees fit, led to the birth of Capitalism.

Mercantilism favors Government Subsidies ie Bailouts and giving money to Farmers to not grow food to increase it's value.

Capitalism, based on the ideas of John Locke's arguments of property, had grown dominat over the centuries and displaced Mercantilism

[Michaelwasinasia]

@Surmar01 Are you stating that the Founders would have approved of the bank bailout?

[Surmar01]

@Michaelwasinasia

I'm just pointing out that historicly, Mercantilism had governments supporting monopolies and underwritning large industries. Europe was often in war to support Mercantilism when trade inbalance went too high or went about to secure more resources for their industries. The American/Mexican and the various indian wars were fought under the traditions of Mercantilism; securing more land and resources for industries. Study the history of Mercantilism for a better understanding.

[Michaelwasinasia]

@Surmar01 by the way you described it, it sounds like capitalism in it's current form, wars and conflicts for profit and land. Much like was no difference between extreme left-wing or extreme right-wing politics, both mercantilism and capitalism can be corrupted in much the same manner. Interesting. I'll look further into the matter.

But you didn't answer my previous question though?

[pooptickler1337]

Mercantilism is essentially capitalism with foreign trade restrictions.

[heartfire451]

Mike's only mistake here is actually expecting a right winger to do their homework and know their subject. I have met a number of intelligent moderate conservatives. I have yet to ever meet an intelligent far right person who could clearly think for themselves and argue using some form of viable logic. I've met some liberals who are no better but most libs can think for themselves most far righties can not think for themselves.

[Surmar01]

@Michaelwasinasia I personally prefure Capitalism, though not all Capitalist, as it has at its core the idea of securing resouces with capital, goods, services, whatever has a monitary value; not the our army is better than yours so it belongs to us. I would guess that much of the abuses one sees in Capitalism is simply remains of Mercantilism; but that is simply a guess at the moment with my thinking cap on with nothing to point to as proof.

[Surmar01]

@Michaelwasinasia I'm not sure if the Founders would have approved of bank bailouts as for a new country the banks as a rule likely didn't have any size to request such and had to limit their activities to what could be supported locally or go under. It was the system that the Founders knew, but the arguments of Locke on property had already taken a firm hold on the people of the United States.

The Bank of The United States was formed to support Mercantilism and War, but that was some yrs after.