commercial leadership in the eighteenth century had its origins in the Britain’s mercantilism of the seventeenth century—European mercantilism was a system of economic regulations aimed at increasing the power of the state Practiced by Colbert under Louis XIV, mercantilism aimed at creating a favorable balance of foreign trade in order to increase a stock of gold country’s What distinguished English mercantilism was then idea that government economic regulations could and should serve the private interest of individuals and groups as well as the public needs of the state—others put needs of state ahead of individuals The result of the English desire to increase both military power and private wealth was the mercantile system of theNavigation passed under Oliver Acts Cromwell The acts required that goods imported from Europe into England and Scotland be carried on British-owned ships or on ships of the country producing the article Acts gave British merchants and shipowners monopoly on trade with the colonies The colonists were required to buy almost all of their European goods from Britain and people believed that they were be a guaranteed market for products The Navigation Acts were a form of economic warfare in that their initial target was the Dutch, who were far ahead of the English in shipping and foreign trade and three Anglo-Dutch wars between 1652 and 1674 damaged Dutch commerce Late in the seventeenth century, the Dutch and English became allies to stop the expansion of Louis XIV and the Netherlands followed Spain into France’s decline From 1701 to 1763, Britain and France were locked in a series of wars to decide, in part, which nation would become the leading maritime power (share of profits)
Britain’s commercial leadership in the eighteenth century had its origins in the mercantilism of the seventeenth century—European mercantilism was a system of economic regulations aimed at increasing the power of the state Practiced by Colbert under Louis XIV, mercantilism aimed at creating a favorable balance of foreign trade in order to increase a country’s stock of gold What distinguished English mercantilism was then idea that government economic regulations could and should serve the private interest of individuals and groups as well as the public needs of the state—others put needs of state ahead of individuals The result of the English desire to increase both military power and private wealth was the mercantile system of theNavigation Acts passed under Oliver Cromwell The acts required that goods imported from Europe into England and Scotland be carried on British-owned ships or on ships of the country producing the article Acts gave British merchants and shipowners monopoly on trade with the colonies The colonists were required to buy almost all of their European goods from Britain and people believed that they were be a guaranteed market for products The Navigation Acts were a form of economic warfare in that their initial target was the Dutch, who were far ahead of the English in shipping and foreign trade and three Anglo-Dutch wars between 1652 and 1674 damaged Dutch commerce Late in the seventeenth century, the Dutch and English became allies to stop the expansion of France’s Louis XIV and the Netherlands followed Spain into decline From 1701 to 1763, Britain and France were locked in a series of wars to decide, in part, which nation would become the leading maritime power (share of profits)
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