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17 August, 19:30

What is the one commonality between capitalism and merchantilism

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  1. 17 August, 22:37
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    Capitalism is an economic system and an ideology based on private ownership of the means of production and their operation for profit.

    Mercantilism was a type of national economic policy designed to maximize the trade of a nation and especially to maximize the accumulation of gold and silver.

    So in other words,. Mercantilism is a type of economic system based on international trade. Merchants export goods to other nations and import goods to their own nation in hope of making a profit. Because many businesses in a modern capitalist economy do the exact same thing, mercantilism can be interpreted as an early form of capitalism.
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