Question

Was mercantilism positive or negative for the colonists? Did they become imprisoned in a system not of their own making, or did something else evolve?

Answer 1

Mercantilism had definitely proved to be positive for the colonists in terms of the profitability that they set out to achieve.

The colonists enjoyed great amount of profits when they got supply of raw materials from the colonies and exported the finished products to these colonies. Imports were cheap, and exports were heavily priced. Hence, financially the colonists experienced big positives.

Eventually, it can be said that the colonists did become imprisoned , but in a system which was of their own making. The mercantilistic approach led to inflation and high levels of taxations. Inhuman practices such as slavery evolved which created class differences. There was no balance in the trade systems too.