What were the causes of the decline of mercantilism?

The decline of mercantilism was driven by several factors, including the rise of capitalism and industrialization, which shifted economic focus from state-controlled trade to free market principles. The expansion of global trade networks and the emergence of colonial competition also undermined mercantilist policies. Additionally, the intellectual challenge posed by Enlightenment thinkers advocating for free trade and the inefficiencies associated with mercantilist regulations contributed to its decline. These shifts led to the adoption of more liberal economic systems in the 18th and 19th centuries.