Question

Explain the political, economic, and cultural impact of the British mercantile system

Answer 1

Adam Smith invented the expression “mercantile system” to portray the arrangement of political economy that tried to advance the nation by controlling imports and encouraging exports.

The impacts were:

Political - the political angles for the British mercantile system is critical. Having a solid economy is extremely important to a ruler's power and his prestige.

Economic - economically it was a standout amongst other times for England. They had the biggest naval force after the defeat of Spanish fleet, and controlled shipping paths. They could exchange with the world.

Social - with the new mercantile system likewise came social trade w/new world and old