Questions what is the main features of the socialist economy?

The emergence of mercantilism.

Key words: Founders, ideas, economic development, trade.
First popularized in Europe during the 1500s, mercantilism was based on the idea that a nation's wealth and power were best served by increasing exports, in an effort to collect precious metals like gold and silver. Mercantilism replaced the feudal economic system in Western Europe.

117. 
     What Is The Quantity Theory of Money?
     

Key words: Barter system, wealth, functions of money.
The quantity theory of money is a theory that variations in price relate to variations in the money supply. The most common version, sometimes called the "neo-quantity theory" or Fisherian theory, suggests there is a mechanical and fixed proportional relationship between changes in the money supply and the general price level. This popular, albeit controversial, formulation of the quantity theory of money is based upon an equation by American economist Irving Fisher.
In trade, barter (derived from baretor^[1]) is a system of exchange where participants in a transaction directly exchange goods or services for other goods or services without using a medium of exchange, such as money.^[2] Economists distinguish barter from gift economies in many ways; barter, for example, features immediate reciprocal exchange, not delayed in time. Barter usually takes place on a bilateral basis, but may be multilateral (i.e., mediated through a trade exchange). In most developed countries, barter usually only exists parallel to monetary systems to a very limited extent. Market actors use barter as a replacement for money as the method of exchange in times of monetary crisis, such as when currency becomes unstable (e.g., hyperinflation or a deflationary spiral) or simply unavailable for conducting commerce.

118. 
     Founders of Mercantilism
     

Key words: Scholars, thoughts, contributions
Jean-Baptiste Colbert
Arguably the most influential proponent of mercantilism, French Controller General of Finance Jean-Baptiste Colbert (1619-1683) studied foreign-trade economic theories and was uniquely positioned to execute these ideas.

119.