The Free Market > Mercantilism

If you like the free market then you will very much dislike mercantilism.  People who supported mercantilism, mercantilists, were often people of high authority in the 15th and 16th centuries such as monarchs, lords, and dukes.  Often times mercantilism is paired with absolutism.

These people want to be the only economical “winners” in the world; they didn’t want other countries to thrive besides their own.  In order to prevent other countries from thriving a mercantilist country might stop or prevent imports from entering their country because if they bought goods from another country then their country wouldn’t be the one making the money.  Mercantilists also did not want currency, gold and silver, to leave their country because they thought it would make their country poorer and the other countries wealthier.

France during the 15th-century is an example of a mercantilist economy where there were price restrictions imposed and subsidies on certain products.  This made it very difficult to compete in the economy.

There were also many sorts of monopolies established in result of mercantilist laws.  For example, in England a law came about called the Navigation Acts that made it mandatory for any imports coming by ship to come only on English ships employed with English men.  This must have been quite difficult for other countries to get their goods to England.

A free market economy not only helps everyone thrive but it is much less restrictive.  Under a free market people can more easily obtain what they desire at the most reasonable price.  A free market form of economy goes hand in hand with freedom!

 

*Did you notice the title?  The Free Market > Mercantilism (The Free Market is Greater than Mercantilism)

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