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Why did England want Mercantilism?

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England embraced mercantilism to accumulate :-

  • wealth (gold and silver)
  • boost its power and self-sufficiency
  • expand through colonies for resources
  • regulate trade
  • increase its overall economic and geopolitical strength.
User Kevin Tanudjaja
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Answer:

England wanted mercantilism because it believed that it would:

  • Increase the country's wealth by encouraging exports and discouraging imports.
  • Increase the country's power by giving it control over trade routes and resources.
  • Create jobs and boost the economy by supporting domestic industries.
  • Protect the country from foreign competition by imposing tariffs and other restrictions on imports.

Mercantilism was a popular economic philosophy in the 17th and 18th centuries, and it played a major role in the development of the British Empire. However, it also had some negative consequences, such as:

  • It led to the exploitation of colonies, as they were forced to provide raw materials to the mother country at low prices.
  • It stifled innovation, as businesses were protected from competition and had little incentive to develop new products or processes.
  • It led to conflict between countries, as they competed for control of trade routes and resources.

Mercantilism eventually gave way to free trade in the 19th century, but it continues to have a legacy in the way that countries think about trade and economic policy.

User Ingro
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