Question

Which economic system prevalent in Europe in the sixteenth century involved using one’s wealth to create more wealth?

Answer 1

In the 16th Century:

The economic system prevalent in Europe used for creating wealth from wealth was the system of Mercantilism.

The mercantilism policy was first coined in the 1776. This was introduced by Adam Smith. The basic concept of this policy was that national wealth can be measured by gold and silver. It also toyed around with concepts of improving country positions by increasing and generating profit, because otherwise countries sitting idle were useless ones.

Alongside this trade should be monopolistic and that foreign intruders have to be banned.