Mercantilism
Mercantilism is an economic theory that emphasizes increasing a nation's wealth through government-controlled trade, exports, and accumulation of precious metals like gold and silver. It typically involves policies such as tariffs and colonies to ensure a trade surplus, and in today's global economy, it influences modern protectionism despite being criticized for ignoring mutual benefits of free trade.
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Mercantilism's focus on trade surpluses helped fund the voyages of explorers like Christopher Columbus, leading to the Columbian Exchange that introduced foods like potatoes and corn to Europe, fundamentally altering global diets and populations—potatoes alone are estimated to have boosted European population growth by supporting more efficient farming.
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