How Did George Thompson Mercantilism

George Thompson understood that advocating for the abolition of slavery alone was not enough to effectively combat the issue. In addition to his efforts to eradicate slavery, he became an advocate for free trade and an opponent of mercantilism. Thompson recognized that addressing broader economic structures was crucial, as these changes would have a significant impact on people's rights. Thus, Thompson not only focused on abolitionism but also worked to promote alternative economic frameworks.

During Thompson's youth, mercantilism was the dominant economic theory adopted by European colonial powers. Mercantilism was an economic theory and practice that dominated trade and commerce in Europe from the 16th to the 18th centuries. Ever since Columbus'

This is to limit trade with rivals to provide them no financial support. Rivalries were a key part of the mercantilist international policy. These rivalries would not only serve to be economic rivals but also military rivals. This military rivalries would serve to be one of the reasons behind mercantilist thought as much of the money collected by the colonies would be pumped into wars with other colonial nations. Another aspect of mercantilism was governments often regulated trade and commerce to achieve their economic goals. This could include imposing tariffs and trade restrictions, promoting exports, and granting monopolies to certain companies. Mercantilist policies were designed to increase the wealth and power of the state, and many European countries competed with one another to accumulate wealth and expand their territories. One of the key principles of mercantilism was the belief that a country's wealth was limited, and that it was necessary to hoard resources, especially precious metals, in order to increase the power of the state. This led to a focus on trade and colonization, with European powers seeking to establish colonies and trade networks around the world. Mercantilism had a significant impact on the global economy and trade, shaping the economies of Europe and the Americas, and leading to the exploitation of colonies and the creation of vast wealth for European merchants and states. It eventually gave way to classical economics and the ideas of Adam Smith, who argued that free trade and competition would lead to greater prosperity for all. Mercantilism also would end up leading to something against Thompson’s views on rights, Triangle Trade. As seen in figure 1 triangle trade would end up leading to the enslavement of Africans in order to produce raw materials on plantations in the Americas. This exploitative undertone is one of the key characteristics