mercantilism

mercantilism was a dominant economic theory in the 16th to 18th centuries.

many countries adopted mercantilism to increase their wealth.

mercantilism emphasizes the importance of a favorable balance of trade.

critics of mercantilism argue that it restricts free trade.

mercantilism led to intense competition among european nations.

some historians believe mercantilism laid the groundwork for capitalism.

mercantilism is often associated with government intervention in the economy.

the decline of mercantilism marked a shift towards classical economics.

understanding mercantilism helps explain historical trade policies.