Mercantilism Essay Example | Topics and Well Written Essays - 250 words

Mercantilism - Essay Example All the countries that practiced mercantilism had one  economic  motivation  which was the consolidation of power centers in that region.  Spain  was not left  behind,  and it made sure all its colonies in the Caribbean  were rigidly controlled  to protect the  commerce  and industry of her empire.  First, they barred foreign ships from accessing her colonial ports in the Caribbean. Second, she designed the colonies  to economically complement  to Spain, and forbade  certain  colonies to  manufacture  so as to  leave  their  market  open for imports. Finally, she channeled all colonial  trade  through one port so that she got all the benefits (Magnusson, 1996). The main positive aspect of mercantilism was the  creation  of wealth for the  merchants and  rulers  of the countries involved. Another positive aspect is that this system provided the greatest inspiration to the  growth  of economics as a scientific division. The local inhabitants of these colonies were the ones who bore most of the negative aspects of mercantilism. First the locals  were exploited  to the  core  whereby they either became slaves, or bonded laborers. Second, the economic status of these colonies weakened a lot, and the local people  were left  highly  demoralized (Magnusson,