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During this time, there were many clear aggressions and human rights violations that were committed by imperial European empires on their colonies in Africa, Asia and the Americas, though not all of these were directly rationalized by mercantilism. Mercantilism, did however, lead to the adoption of enormous trade restrictions, which stunted the growth and freedom of colonial business. In the 1660s, for example, Great Britain passed the Navigation Acts.
Mercantilism, also called commercialism,â is a system in which a country attempts to amass wealth through trade with other countries, exporting more than it imports and increasing stores of gold and precious metals. It is often considered an outdated system. The noun mercantilism came from the Latin mercÄns, or buyer.. It was a system that encouraged the idea of government trade regulation to gain wealth, a move away from agriculture system as an economic base.