First off, when you see "mercantilism" i want you to recognize it's the economics of CONTROL. TRADE is CONTROLLED. There is not freedom to trade w who you want, no freedom to allow other potential competitors into the market. The goal is to MONOPOLIZE and CONTROL. Kings love it, STRONG national governments love it. We'll see challenges to controlled, MERCANTILISM really soon but for now let's recognize this: Mercantilism supports: Control, Monopolies, UNIONS/Guilds(do you remember what a guild is?) NO competition, and the promotion of the state first and foremost. 

 

Mercantilism recognizes that there are limited amounts of resources in the world so it's best to get them and CONTROL them. When countries w colonies utilized these colonies, those colonies were only allowed to trade BACK to the Mother country; no one else. Remember!? CONTROL! Let's look at tobacco. It's going to enrich England. The English colonies on the American east coast were ONLY allowed to ship the tobacco back to the mother country. They couldn't trade it diretly w the dutch, the french, the spanish, the whoever! This would have helped colonial farmers, no doubt. Instead, they were told they could only trade w the mother country who, from there, would CERTAINLY trade w those other countries. They'd set the price. Also, concepts of economic control would only allow certain folks to make things. For example, members of the guilds were EXPERTS and making things. They were called artisans. Laws (yes, really laws!!) were put in place to only allow members of these guilds to make specific items. Let's say shoes. Shoes were skillfully created. A master made them by hand. This made shoes expensive. In our next unit, we'll see challenges to guilds and artisans w mechanized production. This, like the printing press(synthesis!!!) will allow for the mass production of "shoes." the supply will go up, making the price go down BUT shoes will become more affordable allowing for a whole new market to be created of folks who otherwise would not be able to afford them to PURCHASE them. 

 

Again, mercantilism. CONTROL. Economics of absolutism.