What is mercantilism? - ProProfs Discuss
Advertisement

What is mercantilism?

Asked by Elston, Last updated: May 08, 2022

+ Answer
Request
Question menu
Vote up Vote down

1 Answer

John Smith

John Smith

John Smith
John Smith

Answered Sep 09, 2016

Is the economic doctrine in which government control of foreign trade is of paramount importance for ensuring the prosperity and security of the state. in particular, it demands a positive balance of trade. mercantilism dominated western european economic policy and discourse from the 16th to late-18th centuriesmercantilism was a cause of frequent european wars in that time and motivated colonial expansion. mercantilist policies have included: high tariffs, especially on manufactured goods; monopolizing markets with staple ports; exclusive trade with colonies; forbidding trade to be carried in foreign ships; export subsidies; banning all export of gold and silver; promoting manufacturing with research or direct subsidies; limiting wages; maximizing the use of domestic resources; restricting domestic consumption with non-tariff barriers to trade. mercantilism reached its low-water mark in the last half of the nineteenth century as the british empire embraced free-trade and used its power as the financial center of the world to promote the same. little import and a lot of export. those counties who applied it had a growing economy, those who didnt applied had a ruined economy. spain didnt applied it and the whole gold from the new world went to france, england and the german empire cause spain imported goods from these countries.
upvote downvote
Reply 

Advertisement
Advertisement
Search for Google images Google Image Icon
Select a recommended image
Upload from your computer Loader
Image Preview
Search for Google images Google Image Icon
Select a recommended image
Upload from your computer Loader
Image Preview
Search for Google images Google Image Icon
Select a recommended image
Upload from your computer Loader

Email Sent
We have sent an email to your address "" with instructions to reset your password.