What was mercantilism?

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Mercantilism was a government policy in Europe in the 16th to 18th centuries that aimed at achieving national economic self-sufficiency. It involved promoting exports and reducing imports, acquiring colonies and controlling their resources, and accumulating precious metals such as gold and silver as a measure of wealth. It was based on the idea that wealth was finite and could only be gained by taking it from others, hence the emphasis on trade and competition for economic power. Although it was eventually replaced by free trade and capitalism, mercantilism had a significant influence on the development of economies and states during the early modern period.

What Was Mercantilism