Mercantilism emerged as the dominant economic model of the time. It encouraged colonists to buy goods from England rather than rival countries.
Mercantilism benefited colonial mother nations the most. This is because colonial home nations (such as Spain or Britain) used mercantilism to obtain as many resources and assets from their colonies as possible. Those who lived in the colonies reaped the little benefit, often having to work hard to send resources such as precious metals or cash crops back to the mainland. European powers pursued mercantilism because they believed wealth had a finite amount and that it was critical to acquiring as much as possible; today, we know that wealth increases with time, work, and innovation, and that it is possible to trade and enrich both sides.
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