When a foreign nation buys resources and goods from the domestic nation and takes them out of the country (exports), it’s considered “good” by mercantilists.
When a foreign nation sells goods and resources to the domestic nation (imports), it’s considered “bad” by mercantilists.
When the number of resources coming in is higher than going out, and some resources are bought by the foreign nation and kept in the domestic country (trade deficit), it’s considered terrible by mercantilists.
Mercantilism is a strange doctrine.
Inspired by today’s Cafe Hayek post