... that would serve as markets and provide it with wealth. This theory of international trading was replaced with a new theory of international trading based on the writings of the economists Adam Smith and David Ricardo. They believed that society benefited from a division of labor and commerce, and free trade benefited consumers in all nations. Mercantilism was the dominant trading policy for the ... ...

• Word Count: 1977
• Approx Pages: 8
• Grade Level: High School