Under mercantilism, governments enacted policies in favor of the merchants.
Scottish philosopher Adam Smith coined the term "mercantilism." He criticized what he called the "mercantile system" (or 'merchants' system,' we might say), because it restricted trade and thus restricted economic growth. The mercantile system believed the wealth of the world was a fixed amount, measured primarily in gold and silver accumulated. The system promoted a nation selling its products abroad but not needing to buy from others, or imposing heavy tariffs if importing anything. Commerce was heavily controlled by the government through charters granted to specific trading companies. That's the way that governments enacted policies in favor of the merchant class that supported the country's armies.
Smith countered by advocating a free market -- the opportunity for all nations to increase their wealth by exchanging goods freely with one another according to what would become known as capitalist principles.
T<span>hose who favored centralization thought that the Articles of Confederation gave little power to the central government, and therefore the central government was unable to impose taxes, or execuse laws. They would have changed the articles so that they would have a stronger central government and levied taxes, but that was prevented because they needed a unanimous vote for that to pass, and that didn't happen. </span>
<span>A turning point is a specific, significant moment when something begins to change. Turning point in the history is an event followed by big and important change (political change, social change, ...). </span>Periodization is determining why and how historians divide up history.
Turning points are important in the process of periodization because <span>they mark the beginning and ending of different periods (C).</span>
Iroquois Nation--this nation of tribes created a confederation to settle disputes, facilitate trade, and aid in defense.
The Iroquois Confederacy consisted of 5 tribes who governed the area of the Great Lakes as a representative unit. Each tribe had delegates who came together to make decisions regarding the group of tribes. This type of confederation is similar to the early government of the US or at least the initial goal--a confederation of states working together on issues that addressed the whole but otherwise independent. <span />
