Historically, economic liberalism arose in response to mercantilism and feudalism. Arguments in favor of economic liberalism were advanced during the Enlightenment, opposing mercantilism and feudalism. In Europe, market efficiency was disrupted by the prevalence of feudalism and mercantilism. Austrian economists claim that Marx failed to make the distinction between capitalism and mercantilism. Nations also sought new sources of wealth and practiced mercantilism and colonialism. Industrial Britain eventually abandoned the protectionist policy formerly prescribed by mercantilism. This was in line with the developing British policy of laissez-faire free trade against mercantilism. Monetarism offers a third explanation for mercantilism. In older economic terms, comparative advantage has been opposed by mercantilism and economic nationalism. The doctrine of mercantilism is a prominent variant of economic nationalism. A system of mercantilism in commercial monopolies was established. He was an advocate of mercantilism, monopolies, subsidies, tariffs, and internal improvements. The Early modern era was a time of mercantilism, nationalism, and international trade. England is another prime example, during the period of the transition from mercantilism to liberalism. Scholars debate over why mercantilism dominated economic ideology for 250 years.