The transition from mercantilism to the transatlantic trade can be attributed to several reasons:
1. Exploration and Colonization: The Age of Exploration in the 15th and 16th centuries led to the discovery of new territories, including the Americas. European powers, such as Spain, Portugal, England, France, and the Netherlands, established colonies in these regions to exploit their resources and expand their influence.
2. Shift in Economic Philosophy: Mercantilism, the prevailing economic philosophy during the 16th to 18th centuries, emphasized maximizing a nation's wealth through a favorable balance of trade and accumulation of precious metals. However, as global trade expanded, there was a growing realization that trade and economic benefits could extend beyond just the exchange of goods, leading to a shift in economic thinking.
3. Expansion of Global Trade Networks: The transatlantic trade was part of the broader expansion of global trade networks during this period. European powers sought direct access to commodities, such as spices, sugar, tobacco, and precious metals, found in the Americas, Africa, and Asia. This prompted the establishment of trade routes and the development of trade systems that transcended national borders.
4. Rise of Capitalism: The emergence of capitalism and the growth of commercial enterprises played a crucial role in the shift from mercantilism to transatlantic trade. Capitalist principles, such as private ownership, profit motive, and market competition, became important drivers of economic activities, including international trade.
5. Technological Advances: Advancements in shipbuilding, navigation, and cartography, such as the development of the caravel and improved understanding of celestial navigation, made long-distance voyages and exploration more feasible. These technological advancements facilitated the transatlantic trade and enabled the establishment of colonies and trading posts.
Overall, the move from mercantilism to the transatlantic trade was driven by a combination of economic, political, and technological factors, as well as changing ideas about trade and wealth accumulation.