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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.

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.<ref>[https://www.cato.org/blog/alexander-hamilton-banking-mercantilist Alexander Hamilton, Banking Mercantilist]</ref> 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.

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