To be fair mercantilism was highly controlled. The original corporations were created under mercantilism and given such broad monopolies that they had their own soldiers and fought their own wars.

So it wasn’t exactly a bastion of choice either. Capitalism was the Democratic backlash against kings giving out monopoly contracts. But it was only ever meant to widen the ownership class so all the nobles and rich people could play, and not just the super connected ones. The workers were never supposed to benefit.