English Mercantilism Harmed the Development of North America

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By establishing large monopolies and exemptions to a stream of companies, and the efforts by the colonial government to recover the crown, mercantilism gradually killed the trade within the British colonies. What may have started as an innocent harvest for natural resources turned into egocentric seize of the raw materials from the weak North Americans by the British in a bid to enrich themselves? Mercantilism developed in a period when the European economy was evolving. The isolated medieval states were replaced by centralized as the sole power. However, it was a witty move by the British royals to control all forms of the trade so that they could create monopolistic fair. This eliminated any possibilities of a free trade where the North American locals could sell and purchase their products and dictate their prices. Rather, the ferrying of slaves from the Africa and Indian countries only increased their dependency, reduced level of literacy and hence dragged any forms of positive developments. The most outspoken economic concept in the 17th century was mercantilism. This was an economic policy where the Spain, Britain, and France sought to increase their power and wealth over their rivals by snatching large amounts of silver and gold and selling them at a higher price than they bought. Their primary objective was to become self-sufficient and control the colonial trade. As a result, they ended up exploiting each of their colonies’ raw materials and dictated the costs of all other goods without the trade fairs. Some stipulated acts served as the golden rules. This came to be emulated as the primary regulations and the cause of the harm for the development of the North

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