mercantilism

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But more important was the process of parallel development, for example of mercantile capitalism, which emerged from earlier trading activities such as those described in Markets in Africa by Dalton and Bohannon and that existed in all the post-Bronze Age societies, in the Near East, in India, in China, and in the Mediterranean.
Cacao provides a good example of this, with the initial impetus toward mercantile capitalism and a plantation economy coming from a crisis in the cacao supply for New Spain itself.
Imperial structures survived in the era of mercantile capitalism. The opposite occurred in tribal societies in the western hemisphere.