INTERNATIONAL JOURNAL OF ARTIFICIAL INTELLIGENCE
ISSN: 2692-5206, Impact Factor: 12,23
American Academic publishers, volume 05, issue 06,2025
Journal:
https://www.academicpublishers.org/journals/index.php/ijai
page 1721
MERCANTILISTANS DOCTRINE IN THE CONTEXT OF SOURCES OF
INVESTMENT
Salamov Farrukh Fattoevich
Acting Associate Professor of the Department of Economic Theory at the Samarkand Institute
of Economics and Service.
E-mail:
Key words:
development , criteria, investment, illusion of temporary growth, long-term effect,
investor.
Abstract:
the article is devoted to determining the list of investors with whom one can
cooperate when attracting investments.
Investments are the driving force of economic development, form the basis of the
reproduction process and create conditions for economic growth. Investment problems have
always been at the center of attention of economists, starting with the works of mercantilists
and ending with the studies of neo-Keynesians , post-Keynesians , post-institutionalists and
other apologists of modern scientific trends.
The investment process as a scientific category is subject to evolutionary development,
caused by the transformation of production methods, which fundamentally changes the
mechanism of investment behavior of economic agents
Representatives of mercantilism, such as T. Mann , J. Locke, D. Hume, W. Stafford, J. B.
Colbert and others, did not consider investments and the investment process directly, studying
them only through the category of money. Recognizing money as the main source of wealth of
the nation, they concluded that the inflow of funds into the country due to export-import
operations creates the necessary volume of investment resources.
Mercantilists were among the first to emphasize that the source of investment was not so
much investments in real production as speculative operations on the foreign market. Obtaining
benefits from the difference in exchange rates and imbalances in customs duties was a key
element of the investment process at that time. Strict protectionist measures blocking the
possibility of exporting capital from the country ensured the accumulation of investment
resources within the country, which ultimately led to the rapid development of Western
European countries
. However, no established chain of “investment sources – investment areas
– sale of the resulting product and distribution of income” describing the investment process
was formed. Private entrepreneurial activity was very chaotic and fragmented, and the state’s
attention was focused only on the development of export-oriented industries. Since the financial
and banking sector was only just emerging at that time, speculative operations could only exist
in the sphere of real exchange of goods.
Conclusion:
In the pre-industrial era, the investment process was not independent and,
as a rule, was an element of the reproduction of labor resources, agricultural production, and
housekeeping. Industrialization, which determined the dominant position of the capital factor,
1
In fairness, it should be said that the development of European countries during this period was accompanied by a
fairly high level of inflation, a situation called the “price revolution”, which called into question the prevailing
ideas of mercantilism that money obtained from the sphere of circulation is the source of the nation’s wealth, and
led to the emergence of new currents of economic thought, such as classical political economy and physiocracy .
INTERNATIONAL JOURNAL OF ARTIFICIAL INTELLIGENCE
ISSN: 2692-5206, Impact Factor: 12,23
American Academic publishers, volume 05, issue 06,2025
Journal:
https://www.academicpublishers.org/journals/index.php/ijai
page 1722
contributed to the concentration of attention of the scientific community on the features of the
investment process as a driver of economic development. In the industrial era, traditional
investment objects are the active and passive parts of fixed production assets and changes in the
volume of inventories.
Bibliographic list:
1. Becker G.S. Family // Economic Theory / Edited by J. Eatwell , M. Milgate , P. Newman .
– M.: INFRA-M, 2004.
2. M.M.Mukhammedov . , N.A.Kamilova // Economic Theory / Samarkand 2023
3. John J. Murphy Technical Analysis of Futures Markets: Theory and Practice. Moscow
2011. 610 p.
4. 3. Ermilina D.A. Investments in the light of economic theory. [Text] / D.A. Ermilina //-
Regional problems of economic transformation. Makhachkala - 2013 - No. 1 - pp. 239-246
5. 4. Lyachenkov Yu.N., Konovalova M.E. Development of investment theory in the process
of transformation of the socio-economic system . [ Text] / Yu.N.Lyachenkov ,
