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'''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.

'''Mercantilism''' is a [[policy]] for a [[nation]] to increase its [[wealth]] based on exporting more [[goods]] to other nations and [[territories]] than importing from them. Relying almost exclusively upon interventionist and centralized government, a mercantilist system relies heavily upon giving subsidies to politically favored businesses, often under the guise of infrastructure development combined also with a central bank with monopoly power. Additionally protectionism is favored and the [[nationalization]] of industries is welcomed, generally if it promotes export and trade.<ref>[https://www.google.com/books/edition/World_Civilization/mY7McxJl7jYC?hl=en&gbpv=1&pg=PA226 World Civilization, A Brief History]</ref>

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.

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.

Mercantilism once was the economic and trade policy of several European countries, such as [[United Kingdom|Britain]] and [[France]], and their colonial empires.  Britain's government-controlled [[East India Company]] played a central role during the [[Boston Tea Party]] crisis. The ''India'' company routinely held exclusive [[monopoly]] powers granted to them by the crown.

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.

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]]