Europe's Transition Out of Feudalism | A Marxist Study of Mercantilism

To the extent that it can be subjected to generalizations, mercantilist economic thought was the complex product of a transitional period. The particularities of the mercantilists were developed by the continuities and ruptures of a transitional conjuncture as the feudal mode of production receded into history and the emerging capitalist structure took its place. As such, export-surpluses, bullionism, state regulation, and monopolies were all the prescriptive features of a theoretical attitude driven by commercial competition.
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https://themarxistproject.medium.com/a-marxist-study-of-mercantilism-f95e31e885c0
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Narration, script, and editing by M
Animated intro by Jack, co-host of the Auxiliary Statements podcast @AuxStatements on Twitter.
Intro music by Charles Tristan:
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Footnote:
The definition of “conjuncture” provided by Wolff and Resnick (1979) is useful to our discussion of the mercantilist era: “A conjuncture is the social formation at a specific time and place. When a conjuncture involves the overwhelming masses of the population in one type of class relation, say feudal, then the entire formation takes the name of the primary relation: a feudal social formation. Other types of class relations present in a feudal social formation are secondary. A transitional conjuncture involves a situation where class struggles within and among class relations have developed to a point where a previously secondary class relation seriously threatens to become primary” (10).
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References:
Hunt, E. K., and Mark Lautzenheiser. 2011. History of Economic Thought: A Critical Perspective. 3rd ed. Armonk, NY: M.E. Sharpe.
Marx, Karl. 1991. Capital: A Critique of Political Economy. Compiled by Friedrich Engels. Translated by David Fernbach. Vol. 3. 3 vols. N.p.: Penguin Group.
Mini, Piero. 1974. Philosophy and Economics: The Origins and Development of Economic Theory. Gainesville, FL: University Presses of Florida.
Polanyi, Karl. 2001. “The Self-Regulating Market and the Fictitious Commodities: Labor, Land, and Money.” In The Great Transformation, 71–81. Boston, MA: Beacon Press.
Resnick, Stephen, and Richard D. Wolff. 1979. “The Theory of Transitional Conjunctures and the Transition from Feudalism to Capitalism in Western Europe.” Review of Radical Political Economics 11 (3): 3-22. https://doi.org/10.1177/048661347901100302.
Wiles, Richard. 1987. “The Development of Mercantilist Economic Thought.” In Pre-Classical Economic Thought: From the Greeks to the Scottish Enlightenment, edited by S. T. Lowry, 147-183. N.p.: Springer, Dordrecht.
Wolff, Richard D., Antonino Callari, and Bruce Roberts. 1984. “A Marxian Alternative to the Traditional ‘Transformation Problem.” Review of Radical Political Economics 16 (2/3): 115–35.
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Attribution:
Brandenburg Concerto No4-1 BWV1049 - Classical Whimsical by Kevin MacLeod is licensed under a Creative Commons Attribution 4.0 licence. https://creativecommons.org/licenses/by/4.0/
Source: http://incompetech.com/music/royalty-free/index.html?isrc=USUAN1100303
Artist: http://incompetech.com/

00:00:00 - 00:00:10 Opening
00:00:10 - 00:01:32 Introduction
00:01:33 - 00:03:49 Background
00:03:50 - 00:09:12 Mercantilism
00:09:13 - 00:11:23 Theory and Practice: The Mercantilist Experience
00:11:24 - 12:00 Conclusion

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