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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.
By Investopedia AAA |. A: During the 17th and 18th centuries, mercantilism was a common economic system and philosophy. Economic and legal restrictions were placed by the British on the American colonies in order to control the flow of trade and protect British enterprises.y Investopedia AAA |. A: During the 17th and 18th centuries, mercantilism was a common economic system and philosophy. Economic and legal restrictions were placed by the British on the American colonies in order to control the flow of trade and protect British enterprises.