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01/19/2021

Liberty Pulse

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Mercantilism in England

1 min read

Mercantilism in England

t was in the 16th century that England began its meteoric rise to the top of the economic and industrial heap. The English Crown in effect tried its best to hobble this development by mercantilist laws and regulations but was thwarted because, for various reasons, the interventionist edicts proved unenforceable.

Raw wool had for several centuries been England’s most important product, and hence its most important export. Wool was shipped largely to Flanders and to Florence to be made into fine cloth. By the early 14th century, the flourishing wool trade had reached a height of an average annual export of 35,000 sacks. The state naturally then entered the picture, taxing, regulating, and restricting.

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