Thomas Sowell vs. Adam Smith

Sowell presents mercantilism as a misconception of what is best for a nations' economy. This conception is based on what mercantilists think is best, this is to have more goods being exported from your country then goods being imported in to your country. Sowell describes this system as one that benefits merchants who in essence capitalize on the hard work and sweat of the common man or poor man as he puts it. In addition to this system being set up this way there were also controls put in place to keep it this way. …