That's not entirely true. Mercentalism emerged due to both the colonial empires and breakdown of the guild system. Modern capitalism really began in the 19th century, with the growth of both industry and the financial sector. Modern capitalism is the most debasing and destructive social force in history.
From foreclosures to environmental destruction, to the rampant greed and swindling, to the breakdown of community ties, family, and the endless search for more pools to invest it.
The opium crisis, deforestation, and the looting of countless communities-comes from capitalism. Not to mention the atomization, drug use, despair, and nihilism that both accompany it and reinforce it.