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MERCANTILISM

MERCANTILISM. American Heritage Dictionary.

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MERCANTILISM

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  1. MERCANTILISM

  2. American Heritage Dictionary • The theory and system of political economy prevailing in Europe after the decline of feudalism, based on national policies of accumulating bullion, establishing colonies and a merchant marine, and developing industry and mining to attain a favorable balance of trade.

  3. According to mercantilism • There is a limited amount of wealth in the world.

  4. Every nation wants to keep its share or even earn more. • A nation does this by maintaining a favorable balance of trade, with exports equaling or surpassing imports.

  5. Preferably, IMPORTS EXPORTS

  6. Colonies have major role in mercantilism. • A colony provides raw materials to the mother country to be manufactured into some consumer products.

  7. Then, colonists buy the finished products, creating a market and creating profits for the mother country.

  8. Lumber Naval stores Cotton Tobacco Indigo Wool Sugar Furs Dried fish Rice Leather Whale products Ores Flax Colonial Raw Materials

  9. Furniture Hats Cloth Pots, pans China and porcelain Paint Tea Shoes Glass Paper Tools Utensils Slaves Colonial Imports

  10. Triangular Trade Routes Develop

  11. Mercantilism Enforcement • How does the mother country enforce mercantilism? • Laws • Tariffs • Navy

  12. Who Benefits?

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