mercantilism Definition
- 1an economic theory that emphasizes the importance of a nation's trade and commercial interests in promoting national power and wealth
- 2the economic policies associated with mercantilism, such as the regulation of trade and the accumulation of gold and silver reserves
Using mercantilism: Examples
Take a moment to familiarize yourself with how "mercantilism" can be used in various situations through the following examples!
Example
Mercantilism was the dominant economic theory in Europe from the 16th to the 18th century.
Example
The mercantilist policies of European powers led to the colonization and exploitation of many parts of the world.
Example
Mercantilism emphasized the importance of exporting more than importing in order to accumulate wealth.
mercantilism Synonyms and Antonyms
Synonyms for mercantilism
- commercialism
- trade
- commerce
- business
Phrases with mercantilism
neo-mercantilism
a modern form of mercantilism that emphasizes the use of economic policies to promote national interests in a globalized economy
Example
Some countries have adopted neo-mercantilist policies to protect their domestic industries from foreign competition.
the set of economic policies and practices associated with mercantilism
Example
The mercantilist system was characterized by protectionist trade policies and the accumulation of gold and silver reserves.
the underlying beliefs and values that informed mercantilist economic theory
Example
The mercantilist philosophy held that a nation's wealth and power depended on its ability to control and manipulate trade.
Origins of mercantilism
from French 'mercantile', meaning 'of merchants'
Summary: mercantilism in Brief
Mercantilism [ˈməːk(ə)ntɪlɪz(ə)m] is an economic theory that prioritizes a nation's trade and commercial interests in promoting national power and wealth. It dominated European economic thought from the 16th to the 18th century and emphasized the importance of exporting more than importing to accumulate wealth. Modern forms of mercantilism include neo-mercantilism, which uses economic policies to promote national interests in a globalized economy.
