Compare And Contrast Capitalism And Mercantilism

Compare Contrast In 1450-1750, mercantilism and capitalism were two dominant forms of economy. Both economies were similar in the way that they both originated in Europe and promoted trade between countries and were different in the way that capitalism revolved around wealth creation while mercantilism revolves around wealth accumulation and gold bullions. The dominance of capitalism and mercantilism as economic systems in Europe promoted contrast between the two different styles. Capitalism focuses on wealth creation through the individual, while mercantilism is centered on wealth accumulation by extraction. In a capitalist economy, privately owned business are encouraged while in a mercantilist economy government owned businesses are supported