A few days ago
mercantilism?
analyze the advantages and disadvantages of the mercantilism for both the parent country and its colonies.
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A few days ago
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Mercantilism is a form of economic imperialism which led to the modern capitalist state. Under such a system, the role of the government is to play a protectionist role in the economy, encouraging exports and discouraging imports, particularly through the use of tariffs. From the 1500-1700 mercantilism encouraged many European wars as the European nations fought over outside markets.
Mercantilism always unfairly favours the parent country, which has the power to impose the tariffs. When colonies became self-supporting and no longer dependent on trade with the mother country, uprisings often occured. The need to balance trade often imposed detrimental social effects onto colonies, such as those of the slave trade or trade in drugs (eg: the Opium Wars).
Mercantilism benefit the colonies only as trade generally does. It greatly benefit the merchant class from the enforced monopolies, bans on foreign competition and the poverty of the workers.
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A few days ago
buyers buy and sellers sell. sellers use money to buy other stuff that they sell and use. everybody makes money. everybody happy
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