1. Name___________________________________________ 12/03/13
What words, phrases, ideas does the term, “Mercantilism” elicit [evoke/inspire?] In other words, what comes to mind when you see or hear of Mercantilism? Use the chart below to write/create all images that come to mind. Include all positive &/or negative aspects surrounding this economic theory. .
Mercantilism
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2. J. George /08/12
What words, phrases, ideas does the term, “Mercantilism” elicit [evoke/inspire?] In other words, what comes to mind when you see or hear of Mercantilism? Use the chart below to write/create all images that come to mind. Include all positive &/or negative aspects surrounding this economic theory.
A nation (mother country) creates colonies in the hopes gaining wealth. Colonies were created to “SERVE” the (motherland – Western European countries)
A new economic system centered on trade/exploration = globalization (Using ships to travel around the world to acquire: land, bullion, resources & servants – wink, wink “SLAVES”) = wealth & power.
Held that a country’s power depended mainly on its wealth = Bullion (gold, silver, etc) & different resources
Fruits of the Renaissance & “Scientific Revolution” = advances in tech. made the voyages possible.
A nation could increase wealth two ways: Favorable balance of trade = sell more (export) more than it bought (import).
Mercantilism
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Went hand in hand with colonization. Europeans colonized new lands for wealth (bullion) & resources = Power/ strength for the motherland.
“God [spread Christianity], glory [new adventures –away from the manor], and gold [bullion/wealth = national power]” were the primary motives for exploration.
A nation’s (Western European nations) ultimate goal was to become rich self-sufficiently = creation of colonies.

3. What is Mercantilism? Mercantilism:
a) Mercantilism is the idea that colonies exist only to make the Mother Country (Western European nations, i.e.-
Spain and Portugal) wealthy.
b) Spain and Portugal tightly controlled trade with their colonies in the Americas in order to make money. Europeans would take raw materials (like cotton) from their
American colonies and sell finished products (like clothing) back to the colonies.