Mercantilisme

Mercantilism was the dominant set of policies in Europe from the 16th to the 18th centuries. It was based on the belief that a nation’s strength came from its wealth and economic control.

To build national power, mercantilist governments sought to increase wealth through various strategies.

One major approach was accumulating precious metals, especially gold and silver. Wealth was increasingly measured by the bullion stored in national treasuries, symbolizing strength and stability.

Another key practice was expanding colonial holdings to secure resources and control trade. Colonies supplied raw materials and served as captive markets. British North America, for example, exported cotton and timber to Britain and was required to import British-manufactured goods.

Mercantilists also emphasized maintaining a favorable trade balance. By exporting more than they imported, nations ensured a steady inflow of bullion. In 17th-century France, Jean-Baptiste Colbert advanced this policy by promoting domestic industries and imposing tariffs on imports.

In the end, mercantilism functioned as a dominant set of policies shaping national economic strategy.