Classifier Instance:

Anchor text: John Maynard Keynes
Target Entity: John_Maynard_Keynes
Preceding Context: Adam Smith rejected the mercantilist focus on production, arguing that consumption was paramount to production. He added that mercantilism was popular among merchants because it was what is now called "rent seeking". However
Succeeding Context: argued that encouraging production was just as important as consumption,and he favoured the "new mercantilism". Keynes also noted that in the early modern period the focus on the bullion supplies was reasonable. In an era before paper money, an increase for bullion was one of the few ways to increase the money supply. Keynes said mercantilist policies generally improved both domestic and foreign investment. Domestic because the policies lowered the domestic rate of interest. And it increased investment by foreigners in the nation by tending to create a favorable balance of trade.
Paragraph Title: Legacy
Source Page: Mercantilism

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