Mercantilism Essay

871 words - 3 pages

Protection is an article that any dependent country seeks for in an independent country; deception is one that any country avoids. The British imperial power of the 1700's was increasing gradually as the years passed. More territories and countries were being colonized by England, with many promises attached by the British government. Yet after time passed the colonies began to see that those promises were granted to the British people not to those in the colonies and colonization was created for their advantage. With the period of imperialism, a strong struggle for justice and welfare of the colonies followed. The term mercantilism began to be used frequently to describe the relationship between the colonies and the imperial power. Mercantilism was an economic system developing during the period of imperialism, it was created in order to unify and increase the power and especially the monetary wealth of the mother country. The major characteristics were that the government of the mother country set regulations of both societal and economical aspects. In theory the mother country was suppose to not only protect their colonies but also design policies to secure an accumulation of bullion, a favorable balance of trade, the development of agriculture and manufactures, and the establishment of foreign trading monopolies. England lacked to fulfill any of the beneficial factors to their economic system and that is why mercantilism was a disadvantage to the colonies. England benefited because not only did all the commodities of the colonies get a tariff on them, which went to the mother country but also the resources and products that the mother country needed to expanded their production possibility frontier was obtained by the mother country regulating trade. The English not only regulated trade but other aspects of the life on the colonies such as social aspects. For instance, the English created many acts that set a limit to the social life of the people. Many people had to live in certain areas and there were many dues that had to be paid to parliament, not only literal payments but dues of respect and configuration. There was not a centralized government in the colonies and it was hard for the needs of the people to be met. The colonies were not able to determine their economical, social or political prosperity because it was not in their hands to control it. All these factors were negative aspects of mercantilism and also disadvantages to the colonies. Along with disadvantages,...

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