What was the influence of mercantilism?

Answer 1

Mercantilism significantly influenced economic policy in Europe from the 16th to the 18th centuries by promoting the idea that a nation's wealth and power were best served by increasing exports and accumulating precious metals. This led to the establishment of colonial empires, as countries sought to acquire resources and markets for their goods. Mercantilism also encouraged government intervention in the economy, resulting in protectionist tariffs and monopolies. Ultimately, it laid the groundwork for modern economic theories and practices by highlighting the importance of trade balance and national economic interests.