mercantilism

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What is mercantilism

An economic system aiming to maximize wealth through trade regulations with a balance of exports over imports.

Who implemented this system?

The British in the American colonies

Benefits

Guaranteed market for raw materials like tobacco and naval protection from foreign threats

drawbacks

The British Navigation Acts restricted colonial trade and only let them trade with the British

why were the drawbacks so bad?

The dependency on the british stifled colonies econmic growth and autonomy. Taxes on everyday goods drained colonial resources.

What emotion did it bring to the colonies

resentment towards the British and the want for independence