The main argument of the essay is that a succesfull process of national capitalist development in a world market characterized by the existence of multiple national monies and divided in the hegemonic developed countries of the First World and the underdeveloped dependent countries of the Third World (and the Second World) requires a merchantilist strategy of economic development in conformity with the monetary logic of capitalism. The argument is foundated in the context of the heterodox monetary-Keynesian conception of capitalism as a monetary production economy.