Mercantilism Essay -- Economics

MercantilismMercantilism is the economic theory that a nations mastersperity dependson its supply of metal(prenominal) and silver that the total volume of trade isunchangeable. This theory suggests that the government should play anactive role in the economy by encouraging exports and discouragingimports, curiously by means of the use of tariffs. Spain and England usedthe mercantile system to benefit the mother countries. The mercantilesystem had special regulations, which usually extracted some sift ofreaction from the colonies. If necessary, the policies would bechanged to better suit the mother countrified.The favorable balance of trade was upheld through certain regulations.No foreign trade was allowed for the colony unless it passed throughthe mother country first and it moved on mother country ships.Furthermore, no foreign settlers were allowed in the colony. Nocolonial industry was allowed. The colony had to hang in dependent onthe mother country for industrial necessi ties, it was not allowed tobecome competition for foreign markets, and migrations restrictionslimited availability of skil direct artisans. Regulatory taxation was other mercantile regulation. contraceptive tariffs were used onforeign imports to the colony, and revenue was raised for the mothercountry. No colonial self-government was allowed, either. The mothercountry avoided challenges to its economic authority, and the coloniescouldnt enact pro colonial/anti-mother country laws. The Spanish usedthree mercantilist devices to protect their commercial monopoly in theNew World. They prohibited foreign ships from entering Spanishcolonial ports, and no foreigner could send goods to the colonies ortake gold bullion out of Spain in pay... ...land, vigorous attempts toprevent smuggling in the American colonies after 1765 led to arbitraryseizures of ships and aroused hostility. The legislation had anunfavorable effect on the Channel Islands, Scotland (before the Act ofUnion of 1707), and especially Ireland, by excluding them from a prejudiced position at heart the system. Shaken by the AmericanRevolution, the system, along with mercantilism, fell into decline.The acts were finally repealed in 1849.Mercantilism was widely used in many different superpowers in the eighteenthcentury. Depending on what superpower used it, the colonies under thesuperpowers were restricted from doing certain things, and had tofollow certain mercantile regulations. The mercantile systems mostlikely finish up with the colonies undergoing revolutions (America andEngland) which resulted in the end of mercantilism. Mercantilism Essay -- EconomicsMercantilismMercantilism is the economic theory that a nations prosperity dependson its supply of gold and silver that the total volume of trade isunchangeable. This theory suggests that the government should play anactive role in the economy by encouraging exports and discouragingimports, especially through the use of tariffs. Spain and England usedthe mercantile system to benefit the mother countries. The mercantilesystem had special regulations, which usually extracted some sort ofreaction from the colonies. If necessary, the policies would bechanged to better suit the mother country.The favorable balance of trade was upheld through certain regulations.No foreign trade was allowed for the colony unless it passed throughthe mother country first and it moved on mother country ships.Furthermore, no foreign settlers were allowed in the colony. Nocolonial industry was allowed. The colony had to remain dependent onthe mother country for industrial necessities, it was not allowed tobecome competition for foreign markets, and migrations restrictionslimited availability of skilled artisans. Regulatory taxation wasanother mercantile regulation. Protective tariffs were used onforeign imports to the colony, and revenue was raised for the mothercountry. No colonial self-government was allowed, either. The mothercountry a voided challenges to its economic authority, and the coloniescouldnt enact pro colonial/anti-mother country laws. The Spanish usedthree mercantilist devices to protect their commercial monopoly in theNew World. They prohibited foreign ships from entering Spanishcolonial ports, and no foreigner could send goods to the colonies ortake gold bullion out of Spain in pay... ...land, vigorous attempts toprevent smuggling in the American colonies after 1765 led to arbitraryseizures of ships and aroused hostility. The legislation had anunfavorable effect on the Channel Islands, Scotland (before the Act ofUnion of 1707), and especially Ireland, by excluding them from apreferential position within the system. Shaken by the AmericanRevolution, the system, along with mercantilism, fell into decline.The acts were finally repealed in 1849.Mercantilism was widely used in many different superpowers in the 18thcentury. Depending on what superpower used it, the colonies under thesuperpowers were rest ricted from doing certain things, and had tofollow certain mercantile regulations. The mercantile systems mostlikely ended up with the colonies undergoing revolutions (America andEngland) which resulted in the end of mercantilism.