Question

In 4-5 sentences

Briefly identify some of the effects of “mercantilist” trade policies on British economic development in the 18th and early 19th centuries.

Answer 1

Hi there,

The following are the effects of “mercantilist” trade policies on British economic development in the 18th and early 19th centuries.

Mercantilism had increased the wealth of Britain by getting supplies of raw materials from its colonies and exporting them with finished goods which had resulted in excessive gain for British by worsening off its colonies. They exercised heavy taxation on its colonies and used to trade in gold and silver resulting in its shortage in the colonies. The colonies started relying on printed currencies which had resulted in inflation due to its mismanagement. It also had resulted in slavery especially from colonies like Africa and slaves were exchanged for commodities at that time.