What term describes the belief that colonies exist primarily to enrich the Mother Country?

The belief that colonies exist primarily to enrich the Mother Country is referred to as mercantilism. This economic theory arose in the late 16th to 18th centuries and posits that a nation's strength is directly related to its wealth, primarily measured in gold and silver. Under mercantilist policies, colonies were established as sources of raw materials and markets for finished goods, ensuring that wealth flowed back to the mother country. This system often led to trade restrictions and policies aimed at benefiting the mother country's economy at the expense of the colonies, shaping their role in the global economic system.

Colonialism generally refers to the broader practice of establishing control over foreign territories, whereas imperialism encompasses the policy of extending a country’s influence through conquest or diplomatic means, which may include various economic systems. Feudalism is an entirely different socio-economic structure that was more prominent in medieval Europe, characterized by a hierarchy of lords and vassals, which does not pertain to the economic relationships established in the context of colonies and mother countries. Thus, mercantilism accurately encapsulates this particular belief regarding the economic relationship between colonies and their governing powers.