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I think it is simplistic to separate List, Rae, and Hamilton from the
mercantilists, as Prof. Hay suggests. The English mercantilists of the
17th C. had very similar ideas--and were I think quite unlike their
continental colleagues. Moreover, those English mercantilists turned out
to be right as well--if you take UK economic performance after 1700 as the
benchmark.
Fred Carstenson
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