Western Civilization II / Unit 4 WC2 0302 short lesson, about 20 seconds
Mercantilism and Early Capitalism: A Fixed Pie or a Growing One
Captions available
The idea
Mercantilism held wealth finite, land and bullion, so one state's gain was another's loss: seize territory, run surpluses, hold colonies, let the crown control it. Capitalism, in the anchor's definition, is exchange for profit reinvested for more profit, under laws protecting property.
In practice
Spain the mercantilist model; Dutch and English merchants the capitalist one.
Where people slip
New: merchants' political power and profit as state policy.
Your place on the trail
Every lesson rests on earlier ones and opens later ones. Tap any to jump.
Something wrong in this lesson? Flag it