Mercantilism

Mercantilism was an economic doctrine that dominated European economic thinking from the 16th to the 18th centuries. It was a system that aimed to increase a nation's wealth and power through the regulation of trade and the accumulation of precious metals, particularly gold and silver. The central tenets of mercantilism included the pursuit of a favorable balance of trade, the establishment of colonies as sources of raw materials, and the promotion of domestic industry.

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