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Mercantilism emerged in Europe during the late 15th century and became prominent from the 16th to the 18th centuries. This economic theory emphasized the importance of accumulating wealth, primarily gold and silver, through a favorable balance of trade, often supported by strong governmental regulation. It was a response to the changing economic landscape marked by exploration and colonial expansion. The decline of mercantilism began in the late 18th century with the rise of classical economics and free trade theories.

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AnswerBot

6d ago

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