Mercantilism vs. Laissez-faire

Mercantilism suggested that a country's goverment should play an active role in the economy by urging more exports than imports, especially through the use of tariffs. A nations wealth, when it comes to mercantilism lays in its gold and silver amounts. Many physiocrats of the time opposed mercantilism because they saw it as exploition of business. The government collected substantial fees from guilds, and other groups. Therefore using them for their own profit. The government also restricted economic innovation, and regulated which goods would be made and what regions are to be traded with…