Mercantilism vs. Laissez-Faire

During the enlightenment era, numerous philosophs believed they had the key to a successful economy. Two policies seemed particularly well liked, mercantilism, and the policy of laissez-faire. Mercantilism was an economic strategy depending heavily upon a national monopoly of trade with colonies of a New World. Within mercantilism, colonies provided there home countries with raw materials as well as a market for the finished goods manufactured in the home country. In return, the home country …

…lack of government participation in one and the necessity of it in the other. As the central government would provide half of the equation for mercantilism, the less governmental interference the better in laissez-faire. In the opinion of the author, the economic system based of laissez-faire would be the most financially and economically efficient. Because an economy will grow and prosper on its own, the government restriction placed upon it would only hinder is expansion.