By the beginning of the sixteenth century, some significant institutional changes in Europe took place like the discovery of new continent, Renaissance, and religion revolution, which made the next two hundred years different from the preceding era of feudalism and portended the advent of capitalism. The intervening period is called mercantilism. The essential characteristic of mercantilism, I think, is economizing expenses and exporting products in order to strengthen nation-state. Gold and silvers becomes the end of final objective. This economic system has its special principal rules on nationalism, and eventually follows its inevitable trend to failure after 200 years….