What is the economic belief that involved stripping a new land of its raw material to benefit the home country?

This economic belief is known as mercantilism. Mercantilism is an economic system in which one country (sometimes referred to as a "mother" country) takes natural resources from another territory for their own benefit. This is the type of economic systemm established in North America when Britain had control of the 13 American colonies. Before becoming free from British rule, the 13 colonies existed solely to benefit the country of England and their economy.