Mercantilism was driven by the belief that a country's wealth and power depended on accumulating precious metals through a favorable balance of trade. Governments implemented policies such as tariffs, subsidies, and monopolies to protect domestic industries and promote exports. This led to economic competition and conflict among nations vying for resources and markets.
Mercantilism emerged as an economic theory in the 16th century, particularly in Europe, and influenced economic policies of various countries until the late 18th century.
Both systems greatly increased Europeans' total wealth.
the amount of gold, silver, and tradable manufactured goods it controlled
the amount of gold, silver, and tradable manufactured goods it controlled
Colonies do not contribute to the economic success of Great Britain