Smith criticized mercantilist business methods. He insisted that establishing new unrestricted markets around the world, was what benefitted European nations.
What is mercantilism?
When the government uses its economy to strengthen power with the help of a neighboring country is refer as mercantilism. These help in developing the natural resources of the country.
The mercantilist countries held the view that their wealth increased in direct proportion to their gold and silver holdings. According to Smith's opinion, this strategy was foolish and actually reduced the possibility of wealth.
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