What is the doctrine of mercantilism? How did European countries practice it? How is it
related to European colonial expansion?
Mercantilism is the belief that a nation's power is directly related to its supply of capital. This was the dominant school of economic thought during the age of imperialism, from the 16th to 18th centuries, and drove countries to acquire more capital through imperialistic practices.
How the doctrine of merchantilism attained?