The main economic theory driving European colonialism during the 16th to 19th centuries was mercantilism. This theory posited that a nation's power was directly related to its wealth, primarily measured in gold and silver. Mercantilists believed in maximizing exports while minimizing imports to increase national wealth. Colonialism provided access to valuable resources and markets, facilitating this economic strategy. European powers established colonies to exploit raw materials and expand their markets, reinforcing their dominance. The pursuit of mercantilist goals fueled intense competition and conflicts among colonial powers, shaping international relations and the modern economic landscape.