The Age of Mercantilism: European Economic Dominance

Mercantilism was an economic system where European powers, primarily led by Spain, France, and England, but also involving Portugal, the Dutch, and others, sought to accumulate wealth and power.

The system began during the Renaissance in Europe, as the Middle Ages ended, and Europeans started exploring the world, colonizing Africa, and discovering new lands in the Americas.

European countries claimed territories, collected resources like gold and exotic goods, and sold them to accumulate wealth, which led to an increase in power and respect for the mother country.

The competition among European countries was fierce, leading to intense rivalry and the establishment of colonies, which were used as new markets for selling goods and collecting resources.

Colonies were not allowed to trade with other countries, only with their mother country, which concentrated wealth with the mother countries.

Under mercantilism, European merchants manufactured goods from raw materials collected from colonies, creating a system that concentrated wealth and power in Europe.

The system led to Europe emerging as the dominant world power, with colonies on every continent except Antarctica, and created the largest empires in history.

Industrialization started during this time, greatly affecting people's lives, and Christianity spread throughout the world, becoming the largest religion.

Millions of people were enslaved and forced to live on different continents, leaving a legacy that still affects many countries today.

Some civilizations were completely conquered, while others were exterminated directly or indirectly through disease or war, leading to the disappearance of entire cultures.

The system had a significant impact on politics, rebuilding the world in the image of European legal systems and values inherited from ancient Greece and Rome.

Environmentally, the system led to an exchange of plants, animals, and resources between continents, allowing for the exchange of new foods and ideas.

The system lasted for about 500 years, from the 1400s to the mid-20th century, when European powers lost control of their colonies after World War II, leading to the decline of mercantilism.