German mercantilism, also known as Cameral­ism, was developed by Sekendroff, Becher, Hornick, Justi and Darjes. Ludwing Von Seckendroff (1626-92) is described as the Adam Smith of Cameralism. He wanted to increase the power and efficiency of the state and laid emphasis on the principles of rationalism.

He favoured increased population and exchange of necessary products with other countries. He stood for state protection for the people against fraud and oppression of guilds. He also emphasized the importance of the supply of money for the strength of the state. Johann Joachim Becher (1625-85) in his Political Disclosure laid emphasis on the increase of consumption and sale of goods through a government policy.

He also highlighted the advantage of selling goods to others than buying goods from others. He considered monopo­lism, polypolium and propolium as the three enemies of the society and suggested means for the elimination of all these. To do away with monopolism he suggested establishment of State regulated trading compa­nies, State Board of Commerce to supervise banks, state factories and cur­rencies.

He pleaded for rational taxation but warned that the taxation should not be permitted to hinder the economic development of the coun­try. Philip Wilhelm Von Hornick (1638-1712), an Austrian by birth, made out a plea for making Austria self-sufficient and independent of other countries.

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He insisted on the need of consuming goods produced in the country. He was opposed to imports except in unfinished form. He insisted that when domestic goods, even if of inferior quantity were available, these should not be imported.

He said the people should be willing to pay twice the price for the home product because the money remained in the coun­try and whatever goes out, stays out. Johannes Heinrich Gottlob Von Justi (1717-71) presented the ideas of his predecessors in a systematic manner.

His main doctrine was that the administrative transactions of the state should be so regulated as to promote its happiness. He emphasized the importance of commerce as a contributory factor for richness.

Joschim Goerge Darjes (1714-91) emphasized close relationship between the rich­ness of the prince and the skilful subjects. He, therefore, insisted that the state must ensure that no hindrances were created in the way of increasing the income of the subjects.