Mercantilism was popular in Europe from the 16th to the 18th centuries. It was based on the idea that a country's wealth was determined by its stock of gold and silver. Countries that had more gold and silver were richer, more powerful, and more independent.
Mercantilism was also linked to imperialism. Countries that were eager to gain more gold and silver often sought to acquire colonies. Colonies could provide sources of raw materials that could be used to produce goods for export. They could also provide markets for finished goods.
Mercantilism eventually fell out of favor because it was too restrictive. It discouraged free trade and led to wars between countries that were competing for control of resources. It is now remembered as a historical concept that was important in the development of global economic policies.