15 Facts About Mercantilism

Mercantilism is an economic policy that is designed to maximize the exports and minimize the imports for an economy.

Mercantilism became the dominant school of economic thought in Europe throughout the late Renaissance and the early-modern period.

Mercantilism was centred on England and France, and it was in these states that mercantilist policies were most often enacted.

Mercantilism arose in France in the early 16th century soon after the monarchy had become the dominant force in French politics.

Mercantilism was less successful in turning France into a major trading power, and Britain and the Dutch Republic remained supreme in this field.

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Mercantilism taught that trade was a zero-sum game, with one country's gain equivalent to a loss sustained by the trading partner.

Mercantilism became prominent in Central Europe and Scandinavia after the Thirty Years' War, with Christina of Sweden, Jacob Kettler of Courland, and Christian IV of Denmark being notable proponents.

Mercantilism was the economic version of warfare using economics as a tool for warfare by other means backed up by the state apparatus and was well suited to an era of military warfare.

Mercantilism fueled the imperialism of this era, as many nations expended significant effort to conquer new colonies that would be sources of gold or sugar (as in the West Indies), as well as becoming exclusive markets.

Mercantilism functioned as the economic counterpart of the older version of political power: divine right of kings and absolute monarchy.

Mercantilism developed at a time of transition for the European economy.

Mercantilism focused on how this trade could best aid the states.

Mercantilism was closely aligned with the other theories and ideas that began to replace the medieval worldview.

Mercantilism was rejected by Britain and France by the mid-19th century.

Mercantilism, which reached its height in the Europe of the seventeenth and eighteenth centuries, was a system of statism which employed economic fallacy to build up a structure of imperial state power, as well as special subsidy and monopolistic privilege to individuals or groups favored by the state.