What economic theory emphasizes accumulating wealth through trade and establishing colonies?

The economic theory that emphasizes accumulating wealth through trade and establishing colonies is mercantilism. This theory was prevalent from the 16th to the 18th century and posited that a nation's strength was directly related to its wealth, particularly in gold and silver. Mercantilist policies advocated for a positive balance of trade, where exports surpassed imports, and governments often intervened in the economy to promote this balance.

Under mercantilism, nations sought to establish colonies to secure raw materials and create markets for their manufactured goods. This framework not only facilitated the expansion of European powers across the globe but also contributed to competition among these powers for colonial dominance. The accumulation of wealth through trade and territorial expansion was a central tenet of mercantilism, influencing political and economic strategies during its time.

In contrast, capitalism focuses on private ownership and market competition, socialism emphasizes collective ownership and distribution of resources, and feudalism is characterized by a hierarchical system based on land ownership and obligations between lords and vassals. Each of these alternatives presents distinct economic frameworks that do not specifically prioritize wealth accumulation through trade and colonization in the manner that mercantilism does.