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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 was the theory of trade espoused by the major European powers from roughly 1500 to 1800. It advocated that a nation should export more than it imported and accumulate bullion (especially gold) to make up the difference. The exportation of finished goods was favored over extractive industries like farming. Mercantilism was a reaction against the economic problems of earlier times when states were too weak to guide their economies and when every town or principality levied its own tariffs on goods passing through its borders.