Keynes said mercantilist policies generally improved both domestic and foreign investment--domestic because the policies lowered the domestic rate of interest, and investment by foreigners by tending to create a favorable balance of trade.
Mercantilist policies generally improved both domestic and foreign investment--domestic because the policies lowered the domestic rate of interest by tending to create a favorable balance of trade. This was what Keynes said. Mercantilist policies generally improved both domestic and foreign investment--domestic because the policies lowered investment by foreigners by tending to create a favorable balance of trade. This was what Keynes said.