Essay

MERCANTILISM PARAGRAPH

Mercantilism was a system used economically that was used by Europeans during the 16 hundreds. The ultimate goal of Mercantilism is to basically make the country or nation bigger by controlling imports. By controlling how much they import and in the end export more to make more money. All economists in Europe in the 16 hundreds were considered Mercantilists because it was the main economic practice back then. Mercantilism started mainly because most people thought it was the most sensible way to make more money. It’s the same concept of say owning a store and selling your products for more then you buy them. In other words Profit is close to the definition of Mercantilism. The main countries in Europe the introduced and used Mercantilism were Great Britain and France. Even though Mercantilism seemed like the perfect way to gain money there was an anti Mercantilist though that was created by two men named Adam Smith and David Hume. They debunked the theory of Mercantilism with certain flaws like if one country was excellent at producing one product and another country was not good a producing that product but was good at producing another, they should just trade for the two products. That was one of many theories created to try and take down Mercantilism.

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