Mercantilism Essay Example | Topics and Well Written Essays - 250 words

Mercantilism - Essay ExampleAll the countries that practiced mercantilism had oneeconomic penurywhich was the consolidation of power centers in that region.Spainwas not leftbehind,and it made sure all its colonies in the Caribbeanwere rigidly controlledto protect thecommerceand industry of her empire.First, they barred unconnected ships from accessing her colonial ports in the Caribbean. Second, she designed the coloniesto economically complementto Spain, and forbadecertaincolonies tomanufactureso as toleavetheirmarketopen for imports. Finally, she channeled all colonial shell outthrough one port so that she got all the benefits (Magnusson, 1996).The main positive aspect of mercantilism was thecreationof wealth for themerchants andrulersof the countries involved. Another positive aspect is that this form provided the greatest inspiration to thegrowthof economics as a scientific division. The local inhabitants of these colonies were the ones who bore most of the negative aspects of mercantilism. First the localswere exploitedto thecorewhereby they all became slaves, or bonded laborers. Second, the economic status of these colonies weakened a lot, and the local peoplewere lefthighlydemoralized (Magnusson,