Forbidden Wool Trade

England was losing money and economic stability due to the people of the New World not buying the english products and instead buying products of other countries cheaper and selling them more expenisive to other countries then to England itself. So England made one of the biggest imports product, wool,to only be able to be bought from england.

This cuased the economy of england to go up but made it less free for people to work their jobs as they pleased and instead work for a single country having no room to barter and persuade.

This was the start of Mercantalism.Mercantilism is the economic theory that a nation's prosperity depended upon its supply of gold and silver, that the total volume of trade is unchangeable. This theory suggests that the government should play an active role in the economy by encouraging exports and discouraging imports, especially through the use of tariffs.

The economic policy that flourished in the early modern period is often referred to as mercantilism or as the mercantile system. These ideas stemmed from bullionism, a theory that precious metals equal wealth.