The Royal Society

Even prior to the Commonwealth, a group of intellectuals, most of whom had University of Oxford connections, met informally but regularly in London to discuss their ideas. Eventually, the group named itself The Philosophical Club, but it was known as The Invisible College. By the late 1650s, William Petty was its leader. Just after the Restoration, Petty along with others approached Charles II petitioning for a Royal charter. Charles was enthusiastic, and the Royal Society was chartered in...

The History of the Concept

In common scholarly and popular vocabulary, the concept of mercantilism designates either a system of economic policy or an epoch in the development of economic doctrine during the seventeenth and eighteenth centuries, or both of them, before the publication of Adam Smith's path-breaking Wealth of Nations 1776 . The bulk of what is commonly known as mercantilist literature appeared in Britain from the 1620s up until the middle of the eighteenth century. However, the concept also appeared as a...