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

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> by and large the Founding Fathers found the work of [[Adam Smith]] with free capitalist markets and economic individualism to be much the superior.<ref>[https://www.google.com/books/edition/Economics/O5i-d3thv-4C?hl=en&gbpv=1&pg=PA52 Economics - Theory and Practice]</ref>

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==References==