Changes

'''Mercantilism''' was a [[policy]] for a [[nation]] to increase its [[wealth]] based on exporting more [[goods]] to other nations and [[territories]] than importing from them, as well as giving subsidies to politically favored businesses, often under the guise of infrastructure development combined also with a central bank with monopoly power. An excess of exports over imports increased the balance of trade and the acquisition of gold by the nation. Also, acquiring and using colonies to supply raw materials and provide foreign markets was a key aspect of mercantilism. Mercantilism was the [[United Kingdom|British]] policy at the time of the [[American Revolution]]. For this reason, the [[United States]] has initially rejected mercantilism, though many of the [[Federalist]]s, especially [[Alexander Hamilton]], were huge proponents of mercantilism, disagreeing only with who was in charge. The nineteenth century in the U.S. was primarily an economic conflict between mercantilsts versus [[capitalist]]s in the North, as well as [[feudalist]]s in the South with its institution of [[slavery]]. Eventually mercantilism triumphed with [[Abraham Lincoln]] and the [[Republican]]s. The [[economy]] of the U.S. since then has been primarily mercantilist with socialistic welfare programs.

'''Mercantilism''' was a [[policy]] for a [[nation]] to increase its [[wealth]] based on exporting more [[goods]] to other nations and [[territories]] than importing from them, as well as giving subsidies to politically favored businesses, often under the guise of infrastructure development combined also with a central bank with monopoly power.

 

An excess of exports over imports increased the balance of trade and the acquisition of gold by the nation. Also, acquiring and using colonies to supply raw materials and provide foreign markets was a key aspect of mercantilism.

 

Mercantilism once was the economic and trade policy of several European countries, such as [[United Kingdom|Britain]] and [[France]], and their colonial empires.

 

As mercantilism was the British policy at the time of the [[American Revolution]], the [[United States]] initially rejected mercantilism, though many of the [[Federalist]]s, especially [[Alexander Hamilton]], were huge proponents of mercantilism, disagreeing only with who was in charge. The nineteenth century in the U.S. was primarily an economic conflict between mercantilists versus [[capitalist]]s in the North, as well as [[feudalist]]s in the South with its institution of [[slavery]]. Eventually, mercantilism triumphed with [[Abraham Lincoln]] and the [[Republican]]s. The [[economy]] of the U.S. since then has been primarily mercantilist with socialistic welfare programs.

[[Category:United States History]]

[[Category:United States History]]

[[Category:Economics]]

[[Category:Economics]]

[[Category:Political Terms]]

[[Category:Trade]]

[[Category:International Political Terms]]