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During this time, there were many clear aggressions and human rights violations that were committed by imperial European empires on their colonies in Africa, Asia and the Americas, though not all of these were directly rationalized by mercantilism. Mercantilism, did however, lead to the adoption of enormous trade restrictions, which stunted the growth and freedom of colonial business. In the 1660s, for example, Great Britain passed the Navigation Acts.
The Political Economy of Mercantilism. Mercantilism, Lars Magnusson believes, was at its core âa series of discussions that tried to grapple with a rapid developing world of commerce and the effects it had on polities and communities in Europe during the early modern periodâ (p. 48).