What concept was the system mercantilism based on?

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2026-05-21 02:10

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Mercantilism was based on the concept that a nation's wealth and power were best served by increasing exports and accumulating precious metals, primarily gold and silver. It emphasized state intervention in the economy, promoting protectionist policies to enhance national self-sufficiency. The theory posited that a favorable balance of trade, where exports exceeded imports, was essential for national prosperity. Overall, mercantilism viewed economic activity as a zero-sum game, where one nation's gain was another's loss.

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