Mercantilism

Mercantilism was a system of government regulations of the commercial activities in the best interest of the state. From the 17th to 19th century, a nations power was based on its wealth. Increasing a countrys gold stock would make it to a greater extent powerful. Mercantilism grew in France from the efforts of Colbert. Under Cromwell and his passing of the Navigation acts, mercantile system also grew in England.
Colbert motivationed France to accumulate large sums of gold. He believed that he could accomplish this by increasing exports and drastically throttle imports. In fact, his main goal was that France bought nothing from out of the country. To do such a difficult feat, he attempted to achieve self-importance-sufficiency in France. He created mirror factories to replace imports from Venice. Looms in Chantilly provided fierce competition with products from the Spanish Netherlands, and foundries in Saint-Etienne created metals that reduced Swedish imports. To give his people incentive to buy French products, Colbert created regulations and bit inspections of quality. To limit craftsman rebellions, Colbert gave absolute power to guild get the hang and gave special privileges to foreign artisans that immigrated to France.



To limit consumers purchase of foreign goods eve further, Colbert instituted enourmously high foreign tariffs and made domestic tariffs remarkably low. Colberts mercantilist policies brought France some prestige. By the late 17th century France had constrain the world leader of industrial production. However, because of high war expenses and a very low tax base, Colberts dream of self sufficiency was not fully realized.
Mercantilism in England was quasi(prenominal) to the system in France, except for some differences. Instead of that fulfilling the needfully of the state, English mercantilism was used to fulfill the needs of private groups and individuals as well. The major piece of legislation that increase the countrys wealth was the Navigation Acts. Instituted by Oliver Cromwell in...If you want to get a full essay, order it on our website: Ordercustompaper.com



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