Mercantilism- A policy followed by the European imperial powers form the 16th to the 19th century. In colonies, trade was strictly controlled to benefit the economy of the imperial power.
• Mercantilism = Export a lot and import less
• Governments intervened into the economy to achieve self- sufficiency by having a favorable balance on international payments.
• Mercantilism encouraged many of the European Wars
• Fueled European imperialism
• Eliminated competition
• People in colonies could by only goods made in their home country
• Colonies viewed as source of cheap raw materials
[[image:http://www.tea.state.tx.us/student.assessment/resources/online/2006/grade8/ss/images/35graphicaa.gif ]]
• Mercantilism = Export a lot and import less
• Governments intervened into the economy to achieve self- sufficiency by having a favorable balance on international payments.
• Mercantilism encouraged many of the European Wars
• Fueled European imperialism
• Eliminated competition
• People in colonies could by only goods made in their home country
• Colonies viewed as source of cheap raw materials
• French seaport in 1683
• Height of Mercantilism
References
http://en.wikipedia.org/wiki/Mercantilism
Exploring Globalization Textbook
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