  ::::I disagree that capitalism is a development only from mercantilism or protectionism. Far more important is the contrast to earlier feudal systems. Proctectionism is an economic theory about how trade with other nations should be regulated and is contrasted with free trade, not with capitalism. The introduction of capitalism had for greater political, social and economic repercussions than merely advocating free trade with other nations. See Hernando de Soto excellent article here .