Was mercantilism mutually beneficial to the mother country and to the colonies? Under what circumstances might their interests diverge?
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OTA 105878/Xenia Jones
Mercantilism and the Colonies
Mercantilism is the established theory or principle of trade during the period of European Global colonialization from the 1500's to the 1800's. The idea, at least from a national perspective is to export goods, services and products beyond the volume of what is imported. Additionally, the purpose is to accumulate gold bullions, the pillar of wealth-creation. While farming was essential and agricultural goods heavily traded, products from factories that are handmade is far more favoured for in most cases, specialized products like crystal, glass, furniture, spices, jewellery, porcelain, textile, china and silverware fetch more than agricultural produce that can be sourced easily, requiring ordinary, non-specialized labour to produce. Mercantilism as a national enterprise was all about competing for resources and markets with other nations. The monarchy/government is enriched by the taxation levied upon ...
The solution is a 749-word narrative that discusses the role of mercantilism in colonial economy looking at the shared interests of both the colonies and the mother country. Instances that would diverge said interests are also discussed. references are listed for expansion. A word version of the solution is attached for easy printing.