Question

The policy by ehich european rulers sought to increase the power and wealth of their realms by extracting resources from their colonies for the benefit of mother country is

Answer 1

The answer is mercantilism. This is economic nationalism for the plan of constructing a rich and capable state. Adam Smith was the one who coined the term “mercantile system” to illustrate the system of political economy that needed to augment the country by forbidding imports and siding with exports.