Thomas Mun

Thomas Mun (baptized June 17, 1571, London, England—died c. July 21, 1641) was an English writer. He is known for his theory (an idea that tries to explain something), especially about science or philosophy) of the balance of trade.

Thomas Mun
Baptised	17 June, 1571 London, England
Died	21 June, 1641 (aged 70) London, England
Nationality	English

Mun also worked for the East India Company. He wrote two books: A Discourse of Trade from England Unto the East Indies and England's Treasure by Foreign Trade.

Personal Life

Thomas Mun was born in June 1571 in London, England. His family was rich. He had a father, John Mun. He was raised by his stepfather. We do not know about his education.

Family

Thomas Mun's father and stepfather both sold fabrics for a living. His stepfather was also a director of the East India Company. His grandfather, also named John Mun, worked in the Royal Mint (a mint is a place where money is made).

Marriage

When Thomas Mun was 41, he married Ursula Malcott. They had three children: John, Ann, and Mary.

Career

In 1615, Thomas Mun was chosen to be the director of the East India Company, because he was very successful. He worked hard for the rest of his life to help the East India Company.

A Discourse of Trade from England unto the East-Indies

Thomas Mun was a mercantilist, meaning he believed that lots of gold makes a country rich. He became famous during a depression (when the economy is not doing well) in 1620. People said that this was because the East India Company used £30,000 in bullion (gold, silver, or platinum) for each voyage.

In 1621, he wrote a book called 'A Discourse of Trade from England unto the East-Indies'. The book says that a country will be rich if it exports more than it imports; in other words, if it sells more than it buys.