mercantilismi

Mercantilism is an economic theory and practice that dominated European economic thought and policies from the 16th to the late 18th century. It posited that a nation's wealth and power were best served by increasing exports and collecting wealth in the form of gold and silver. Mercantilists believed that the world's wealth was finite, and that one nation could only grow rich at the expense of another.

Key tenets of mercantilism included the importance of a favorable balance of trade, meaning a nation should export more goods than it imports. This surplus would then be settled in precious metals, thereby increasing the national treasury. Governments actively intervened in the economy to achieve these goals, often through protectionist policies such as tariffs, subsidies, and import restrictions. Colonies were viewed as valuable assets, primarily serving as sources of raw materials for the mother country and as captive markets for its manufactured goods.

Colonial expansion was a crucial component of mercantilist policy, as it provided access to resources and new markets. The Navigation Acts in England, for example, were designed to ensure that trade with English colonies was conducted using English ships and that certain goods could only be exported to England. While mercantilism fostered industrial development and overseas trade for some nations, it also led to economic friction and conflicts, both domestically and internationally, as countries competed for resources and markets. The system began to decline in the late 18th century with the rise of free trade ideas and classical economics, notably espoused by Adam Smith.