What year did capitalism replace mercantilism?

Answer 1

Capitalism began to replace mercantilism during the late 18th and early 19th centuries, particularly with the rise of the Industrial Revolution. While mercantilism was dominant from the 16th to the 18th centuries, the shift towards capitalist economic practices became more pronounced following Adam Smith's publication of "The Wealth of Nations" in 1776, which advocated for free markets and individual entrepreneurship. This transition was gradual and varied by region, but by the mid-19th century, capitalism had largely supplanted mercantilist policies in many parts of the world.