Mercantilism

Mercantilism, prevalent in Europe from the 1500s to the 1700s, was a predominant economic concept and policy. It aimed to augment a country's wealth and influence through trade control and a preference for exports over imports. The mercantilist perspective posited that the world possessed a fixed amount of wealth, emphasising the importance of gold and silver for a nation's prosperity. Mercantilism was often associated with colonialism and absolute monarchy.