may 23, 1555 - Charter Companies

Description:

-Rising merchant class aids exportation of raw wool and cloth

-Chartered companies begin to form as merchants join together and get charter from monarch to have trade monopoly on certain regions

-Mercantilism develops- idea that nation as a whole was most important actor in economy, goal of economic activity should be to increase nation's wealth (use colonies to extract wealth from them without exporting any)

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