Asked by tt

In 1–2 sentences, describe the transition from mercantilism to capitalism in Europe.

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Answered by GPT-5 mini AI
Mercantilism—an early modern system where states sought to accumulate bullion and power through monopolies, tariffs, colonial extraction and regulated trade—gradually gave way between the 17th and 19th centuries to capitalism, driven by the rise of private property and investment, wage labor, market competition, financial institutions and industrial technologies that organized production for profit rather than state advantage.