Mercatilism
Analyzing Mercantilism
Name: BigE
What is mercantilism?
Mercantilism is an economic theory in which a country accumulates wealth in gold and silver or other natural resources.
According to the (Exploring Globalization Textbook By: Gardner and Lavold) mercantilism is a policy followed by European imperial powers from 16th to the 19th century. In colonies trade was strictly controlled to benefit the economy of the imperial power.
What were some factors that caused mercantilism to work? Give examples and explain fully.
Mercantilism mainly benefited the British people. In that case many factors cause mercantilism to work between the 16th and 19th centuries. European countries strict enforced trade laws to their colonies. In that case, mercantilism grew and prospered due to a combination of factors such as decline of feudalism and competition.
According to The Cyclopedic Dictionary of Law by Walter A. Shumaker, George Foster Longsdorf, Feudalism was a set of legal and military customs in medieval Europe that flourished between the 9th and 15th centuries. Broadly defined, it was a system for structuring society around relationships derived from the holding of land in exchange for service or labor. In the beginning of the sixteenth century Europe witnessed great religious and intellectual awakening due to Reformation and Protestantism. These two religions made by Erasmus and Martin Luther changed the way citizens of Europe saw things. For example the church collected indulgences from its citizens. This was one of the reasons Erasmus and Martin Luther challenged the church’s doctrine which resulted in them being excommunicated from the catholic church. In that case it declined feudalism because people started to see that they do not have to pay indulgences if they were to join a different branch of Christianity. This caused mercantilism to prosper because of globalization. Whatever happens anywhere in the world it will affect every
Name: BigE
What is mercantilism?
Mercantilism is an economic theory in which a country accumulates wealth in gold and silver or other natural resources.
According to the (Exploring Globalization Textbook By: Gardner and Lavold) mercantilism is a policy followed by European imperial powers from 16th to the 19th century. In colonies trade was strictly controlled to benefit the economy of the imperial power.
What were some factors that caused mercantilism to work? Give examples and explain fully.
Mercantilism mainly benefited the British people. In that case many factors cause mercantilism to work between the 16th and 19th centuries. European countries strict enforced trade laws to their colonies. In that case, mercantilism grew and prospered due to a combination of factors such as decline of feudalism and competition.
According to The Cyclopedic Dictionary of Law by Walter A. Shumaker, George Foster Longsdorf, Feudalism was a set of legal and military customs in medieval Europe that flourished between the 9th and 15th centuries. Broadly defined, it was a system for structuring society around relationships derived from the holding of land in exchange for service or labor. In the beginning of the sixteenth century Europe witnessed great religious and intellectual awakening due to Reformation and Protestantism. These two religions made by Erasmus and Martin Luther changed the way citizens of Europe saw things. For example the church collected indulgences from its citizens. This was one of the reasons Erasmus and Martin Luther challenged the church’s doctrine which resulted in them being excommunicated from the catholic church. In that case it declined feudalism because people started to see that they do not have to pay indulgences if they were to join a different branch of Christianity. This caused mercantilism to prosper because of globalization. Whatever happens anywhere in the world it will affect every