mercantilism, economic theory and practice common in Europe from the 16th to the 18th century that promoted governmental regulation of a nation’s economy for the purpose of augmenting state power at the expense of rival national powers. It was the economic counterpart of political absolutism. Its
Why was mercantilism important?
Mercantilism was significant because it was the economic system followed by Britain that led to the development of Triangular Trade, and the growth of slavery in the American Colonies. It was also a cause of the American Revolution.
What were the effects of mercantilism?
mercantilism, economic theory and practice common in Europe from the 16th to the 18th century that promoted governmental regulation of a nation’s economy for the purpose of augmenting state power at the expense of rival national powers. It was the economic counterpart of political absolutism.
