Publish at April 02 2025 Updated April 02 2025
Economic history has been punctuated by moments that have redefined our relationship with money, trade and so on. Mercantilism is one of those movements that had a major effect on the way things evolved, even if it didn't stand the test of time.
By the end of the Middle Ages, territorial battles were on the wane. Sovereigns in Europe had succeeded in defining clear nations. However, since the quest for power was no longer based on borders, monarchs turned to gold. Possession of this precious metal became an absolute priority and the financial foundation.
So they financed explorers and maritime strategists to find deposits or plunder the ships of other economic powers. The problem is that sponsoring such expeditions is no guarantee of success. The sea is an unforgiving place, and ships can sink. These potential losses of money were a nightmare for sovereigns, who turned to an idea: merchant companies.
Merchants, royalty and other sponsors invest in a mission. If the mission proves successful, they all leave with a share of the proceeds. Losses are then the responsibility of the partners. This system enabled the British East India Company, among others, to become the symbol of a structure that, while profitable for the powerful, was detrimental to the people, leading to social tensions.
Running time: 9min24
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