Mercantilism in Colonial Life

Essay by Anonymous UserHigh School, 11th gradeA, April 2007

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An economic method vital to the continuance of a nation's financial and marketing system, mercantilism has appeared as a profitable means for countries to sustain growth and balance because it allows for attainable stability in trading ventures and furthering domestic marketing and economic prosperity. Prominent in England and France throughout the Era of Exploration, mercantilism provided a country with a way of utilizing their raw materials, which led to achieve a favorable balance of trade. However, with the changing times and economies, mercantilism is hardly advantageous due to the current free-trade markets that have routinely been established in dominant and thriving first-world nations. Instead, it is essentially the most effective method to be employed where there is little to no competition that could challenge the products being manufactured. Therefore, in the case of the British colonies instituted in the New World, mercantilism proved to be a generally lucrative system in ensuring the regulation of the goods produced within the colonies.

Furthermore, mercantilism made sure that the mother country's economic situation would not be compromised, rather it would be enhanced with the notion that by guaranteeing that the nation would be earning more for their exports than their imports . Consequently, nations would be able to implement a long-lasting economic foundation at the basis of its financial system.

Rather than overly abusing mercantilism for personal national gains, the British opted to keep it light in the daily views of the colonists. This was due to several critical circumstances that undeniably impacted the control of England to further regulate trade and productivity within the colonies. The first and most apparent reason was England's past and present involvement in wars and turmoil throughout the first century after the founding of the future-American colonies . Involvement with combats such as the Anglo-Spanish War and...