Economy

       
         Until the 1700s, the economic system that was followed was mercantilism.

 

 



            MERCANTILISM is an economic theory and practice, dominant in Europe from the 
            16th to the 18th century. The idea was to have a govermental regulation of a nation
           ´s economy and to argument state power. Mercantilism said that the colonie 
            explotation was necessary for the sate. We should buy raw materials from our 
            colonies and sale more manufactured goods at higher prices.In mercantilism, 
            economy serves the sate, the sate intervines and enjoys the surplus. 

        Later the mercantilism was replaced by the liberal theory (market economy)
           LIBERALISM: is a political philosophy based on ideas of liberty and equality. People 
           believe in the social an political change in order to progress.