Parliamentary Mercantilism

...The process of change can be broadly divided into the shift from the early balance of bargain system to the balance of trade system, and the transformation into a period of conflict between free trade and protectionism due to changes in the trade structure from the mid-17th century onwards. In terms of their correspondence with the political system, these processes can also be divided into royal mercantilism and parliamentary mercantilism.
[Shift from weighted average to trade differential principle]
This transformation was based on the first land enclosure movement and the development of domestic industry, and was directly brought to the fore by the "Foreign Exchange Controversy" (the first economic controversy in history) which was triggered by the slump in woolen exports and a domestic money shortage that began in 1620.

*Some of the terminology used to refer to "parliamentary mercantilism" is listed below.

Source | Heibonsha World Encyclopedia 2nd Edition | Information

…その変遷過程を大別すれば，初期の重金主義つまり取引差額主義balance of bargain systemから貿易差額主義balance of trade systemへの転換，さらに17世紀中葉以降の貿易構造の変化に伴う自由貿易論と保護主義との対立期への変容とに分けることができる。また，これらの過程は，政治体系との対応においては絶対主義的重商主義royal mercantilismと議会的重商主義parliamentary mercantilismとに分けることもできる。
［重金主義から貿易差額主義への転換］
　この転換は，第1次土地囲込み運動と国内産業の発展とに基づいて進行し，直接には1620年に始まる毛織物輸出の不振と国内の貨幣不足とを契機とする〈外国為替論争〉(歴史上最初の経済論争)によって表面化した。…

※「議会的重商主義」について言及している用語解説の一部を掲載しています。

出典｜株式会社平凡社世界大百科事典 第２版について | 情報