Modern Britain (New York, 2008).
rethinking mercantilism
5
believed that from the fifteenth century through the seventeenth most
Europeans experienced “a great historical process, by which local sentiment and tradition were strengthened, the social and economic forces of
the whole territory consolidated, important legal and economic institutions
created.” This transition from particularist to national economies, societies,
and political structures, according to Schmoller, was of epochal importance…
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