Mercantilism is an economic theory and practice, dominant in Europe from the 16th to the 18th century,[1] that promotes governmental regulation of a nation's economy for the purpose of augmenting state power at the expense of rival national powers. It is the economic counterpart of political absolutism.[2] Mercantilism includes a national economic policy aimed at accumulating monetary reserves through a positive balance of trade, especially of finished goods. Historically, such policies frequently lead to war and also motivate colonial expansion. Mercantilist theory varies in sophistication from one writer to another and has evolved over time. High tariffs, especially on manufactured goods, are an almost universal feature of mercantilist policy. Other policies have included: