| And some of the early mercantilists, like John Hales, were enchanted by the idea of an overflowing treasure chest. But Mr Grampp argues that, on the whole, we should stop confusing mercantilism and bullionism. |
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| Mercantilism in its simplest form is bullionism, yet mercantilist writers have emphasized the circulation of money and reject hoarding. |
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| Bullionism largely collapsed with the realization that it is more beneficial for a nation to use its wealth to produce social benefits and greater economic stability. |
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