growth of mercantilism
- the more advanced countries in europe used this economic policy during colonial america
- it is really a policy that states that a country's power is tied to its wealth
- stating that money was needed to purchase some goods that are vital to the country
- the more money the better
example of mercantilism
- england wants gold
- so england esablishes colonies in america
- america does not have much gold, but can produce cotton and tobacco
- england buys cotton cheap and does not allow america to produce cloth
- england sells the finished cloth to america and to englands rival, france
- england gets gold and depletes part of frances gold reserve
Comments