Mercantilism and Its Impact on the Economic Systems of the Atlantic World

How did mercantilism affect the economic systems of the Atlantic world from 1450 to 1750 CE?

What were the key principles and goals of mercantilism during this period?

Mercantilism in the Atlantic World: Impact and Goals

Mercantilism had a significant impact on the economic systems of the Atlantic world between 1450 and 1750 CE. During this period, mercantilism became a dominant economic strategy in various European countries, including Great Britain, France, Spain, and Portugal.

Mercantilism was a system that emphasized the importance of accumulating wealth, particularly gold and silver, through a combination of exports and limited imports. The primary goal of mercantilism was to maintain a positive balance of trade, where a country exported more goods than it imported, thereby increasing its stock of precious metals.

Under mercantilism, colonies played a crucial role in the economic prosperity of the mother country. Colonies were seen as sources of raw materials and markets for finished goods, enabling the imperial power to generate wealth and maintain dominance in trade.

Great Britain, along with other European nations, implemented mercantilist policies to boost their economic power. These policies included imposing tariffs and restrictions on colonial trade, creating monopolies, and promoting domestic manufacturing to reduce dependence on foreign goods.

Overall, mercantilism shaped the economic landscape of the Atlantic world during the period from 1450 to 1750 CE, influencing trade patterns, colonial expansion, and the accumulation of wealth for imperial powers.