mercantilism is the name given to the economic doctrines and practices of major trading nations roughly from the fifteenth through the eighteenth centuries. colonial empires such as those of england,france ,and spain were among those adhering to the mercantile system. although specific practices regarding the doctrine varied from nation to nation,there were basic principles all mercantilists followed.they all believed that national wealth was based upon its stocks of the precious metal such as gold and silver(metallic currency at that time)and international trade is a "zero-sum game" in which one country's gain is the other's loss.