this post was submitted on 28 Sep 2023
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What was the common system before that? Feudalism?
Mainly mercantilism which just means that everyone wants to only export and importing stuff is literally the worst thing in the world. Mercantilism also had a lot more state restrictions on it compared to capitalism.
Feudalism mainly died out in the 1400's when more of the power was centralised to the king instead of their vassals.