Practice in which nations controlled trade in order to gain wealth for themselves?

Answer 1

If it's the government officials, you could call it a kleptocracy. If a nation tries to boost its export industry, that's mercantilism or protectionism.

It really depends on what you mean by "control trade". Even the word "embargo" could apply.

Per Cassie Wilkerson:

The above is true but the main practice would undergo economic policy agreements of economic investiture doctrine agreements - in which a base doctrine or agreements is adapted to proceed before and committed to approval as policy and this may include provisions of limitations such as "embargo". These doctrines may include the creation of measures to protect business, consumers, local and regional markets from loss of income. There would also insight the regulating bodies and the laws or legal agreements that must apply or the creation of jobs within the trading agreement an example is as such:

"Upon the opening of sales of products from company A with our nation B the nation B requires that all direct sales staff/service agents and customer services for products served company A be serviced by employed citizens of Nation B - for each hundred employed jobs created Nation b is willing to reduce tax our import tax embargo of 1% on our set regulated 42% tax base now if company A begins manufacturing of their products within the confines of Nation B providing work and and contribute to Nation B's GDP then the tax base would be reduced to same standards as companies within nation B at 22% with the additional 5year tax reduction of 1% per each 100 jobs created but not lower than 12% base restrictions."

In most cases open trade negotiations also are used as tool to form job creation that enables more population income/buying power/tax revenues via workers income tax - it's balance is varies from nation to nation but the above is one cited example seen drawn up- some nations use import/export taxes and other issues for protecting wealth or use of a nations assets it's population of labor, even raw resources access pending the nations resources.

On a simple level economic policy is just as bartering at any open flea market acquire the resource for the best price and both walk away happy to some level - its a matter of does the seller willing to hold on to the item to get full value at later time or take advantage of selling the item now at a reduced price and spare the expense of packing up taking home storing/handling and bringing it out next week to find a buyer that agrees to their price. In other cases it may be the individual seller see's more advantage dumping additional items on the buyer such as buy one get this free as they may have inventory to unload to empty out a storage unit before a renewal lease with higher costs will be more economical for them - the same applies for nations: if like the buyer the need the it now and have the resources to open trade or if like the seller needs to dump products to move to more economic sound strategy such as increasing labor for more advantages.

What makes it more complex is there social policy, political polices in the way for truly free economic policy negotiations and agreements that are fair as what restricts most may be political in nature such as restrictions against North Korea and or Iran as of today in 2012 or if social say not doing trade with organized drug crime syndicates - these social and economic polices also applied as embargo's also protects a nations wealth as just in a flea market a buyer may loose if sold stolen goods that can be confiscated or restrict their activities in global trade.

- hope this answers in full the bases of trade protection it's foundation is pretty much the same on a simple level. Hence like at a local level there is a police enforcement at national level the same applies in an economic policy for market regulations enforcement with such acting bodies as the SEC and etc also written into the agreements and channels of approval as well as over site committees in agreement policy creation. And yes some well flea market sites have policy that restricts the venue/vendors featured to create a more commerce that regulates a certain level of competition or enough variance where a regular vendor is not hurt by a new competitor for selling in the flea market its workings are pretty much the same but with more legality and paperwork in the process.