What were the goals and practices of mercantilism?

Mercantilism was an economic theory prevalent from the 16th to the 18th centuries, aiming to increase a nation's wealth through a positive balance of trade and the accumulation of precious metals like gold and silver. Governments implemented protectionist policies, such as tariffs and subsidies, to promote domestic industries and limit imports. Colonies were established to provide raw materials and serve as exclusive markets for the mother country, reinforcing national power and economic self-sufficiency. Overall, mercantilism emphasized the importance of state intervention in the economy to enhance national strength.