Mercantilist System, Essay Example

Most importantly, it is pertinent to note that, in that period of colonies, the most dominant kind of economy was the mercantilism. Thus, the theory emphasized the fact that it is the government’s responsibility to regulate a states’ economy on a strict basis. To crown it all, mercantilist system in America encouraged more exportation, as opposed to importation in a country due to the limited wealth. Further, another mercantilist system tactics were to pose colonies, monopolies, as well as tariffs.

Essentially, the mercantilist system revolved around economy, where it was mandatory for the states to be self-sufficient economically as possible. In addition, the above did not only help England but also other European powers to develop and discover colonies for the production of raw materials (Liebreich, 2005 p.142). On that note, it is worth to note that this triangular system of trade tied the economies of three continents together, the Europe, Africa, and American. It follows that the above system geared the introduction of slaves to Americans.

Initial colonial reaction to mercantilist system

Accordingly, the colonial states did not directly provoke the initial resistance of the mercantilist system in the mid 1760’s. The stamp act of the year 1765 was not because of mercantilist system. However, the above was a sugar act, which altered the originality of the mercantilist system. Further, there were restrictions on mercantilist system on Americans colonies for a period almost a century. It is notable that, during the announcement of their grievances, the colonist representatives announced that they specifically oppose the “taxation without representation” and not the mercantilist system itself. After granting British permission, to regulate their commerce, and pertinently the immediate resistance was not directed to the mercantilist system. Besides, they wanted to analyze issues from the surface after which they will wrench from the extensive historical context of their residents.

References

Liebreich, F. (2005). Britain’s naval and political reaction to the illegal immigration of Jews into Palestine, 1945-1949. London: Routledge.

McMichael, K. (2008). http://www.google.co.ke/url?sa=t&rct=j&q=mercantilist%20system&source=web&cd=2&cad=rja&ved=0CD4QFjAB&url=http%3A%2F%2Ftdl.org%2Ftxlor-dspace%2Fbitstream%2Fhandle%2F2249.3%2F701%2F02_merc_sys.htm%3Fsequence%3D3&ei=lDfOUN7oG47trQfk_4Fw&usg=AFQjCNHByoAk8wLMd6hXYePQanlb0vQZtA&bvm=bv.1355325884,d.bmk