English mercantilism recognized the law of comparative advantage,thus permitting individuals to specialize in producing those goods and services which they could produce at relatively low opportunity costs and trading those items for those which they could not.

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English mercantilism was based on the belief in maintaining trade surpluses and accumulating precious metals, rather than recognizing the law of comparative advantage, which was later articulated by David Ricardo. Mercantilism focused on national wealth and power, rather than individual specialization and trade based on comparative advantage.

English Mercantilism Recognized the Law of Comparative Advantage,thus Permitting Individuals