Abstract
In marked contrast to the state of trade-related research on the Southern Low Countries, the breadth of academic literature concerning the role of international trade in economic development is immense. More recently, historians have again emphasized the importance of (overseas) commerce, and this in its turn has triggered renewed disputation amongst supporters of so-called endogenous growth factors. Partially influenced by Marxist theories, the adherents of external explanations are convinced that foreign trade not merely had beneficial effects, but was a primary cause of the Industrial Revolution. Sixteenth-and seventeenth-century mercantilists believed that international trade was in the first place a constant struggle, in which one's own market had to be protected rigorously against foreign imports. The two most important elements in this heterogeneous line of thought were the formation of monopolies and the complementarity of economic functions.Keywords: economic development; endogenous growth factors; industrial revolution; international trade; Marxist theories
Sign-in/Register to access full text options 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
