Refer to the two passages. Source 1

"By opening a new and inexhaustible market to all the commodities of Europe, it gave occasion to new divisions of labour and improvements of art, which in the narrow circle of the ancient commerce could never have taken place, for want of a market to take off the greater part of their produce. The productive powers of labour were improved, and its produce increased in all the different countries of Europe, and together with it the real revenue and wealth of the inhabitants. The commodities of Europe were almost all new to America, and many of those of America were new to Europe. A new set of exchanges, therefore, began to take place, which had never been thought of before, and which should naturally have proved as advantageous to the new, as it certainly did to the old continent. The savage injustice of the Europeans rendered an event, which ought to have been beneficial to all, ruinous and destructive to several of those unfortunate countries.”

Adam Smith, An Inquiry into the Nature and Causes of the Wealth of Nations, 1776

Source 2

"Throughout the Seventeenth century the economic system of the tobacco colonies depended upon the labor of the poor white man . . . in the Eighteenth century it rested chiefly upon the black shoulders of the African slave.

"There could be no manner of doubt as to the desirability of the slaves from an economic standpoint, apparently the only standpoint that received serious consideration. The indentured servant could be held usually for but a few years. Hardly had he reached his greatest usefulness for his master than he demanded his freedom. Thus for the man of large means to keep his fields always in cultivation it was necessary constantly to renew his supply of laborers. If he required twenty hands, he must import each year some five or six servants, or run the risk of finding himself running behind. But the slave served for life. The planter who had purchased a full supply of negroes could feel that his labor problems were settled once and for all. Not only could he hold the slaves themselves for life, but their children also became his property and took their places in the tobacco fields as soon as they approached maturity.”

Thomas J. Wertenbaker, The Planters of Colonial Virginia, 1922

The historical accounts discussed in Source 1 are best seen as evidence of Western Europe’s transition to which of the following economic systems in the period from 1450 to 1750?

Feudalism
Mercantilism
Sharecropping
Socialism