Mercantilism, also called "commercialism,” is a system in which a country attempts to amass wealth through trade with other countries, exporting more than it imports and increasing stores of gold and precious metals. It is often considered an outdated system.
Definition and meaning Mercantilism was an economic theory that claimed the amount of money in the world was static – fixed – so a country had to make sure its exports were much greater than its imports.
Mercantilism is an economic practice by which governments used their economies to augment state power at the expense of other countries. Governments sought to ensure that exports exceeded imports and to accumulate wealth in the form of bullion (mostly gold and silver).
Define mercantilism. mercantilism synonyms, mercantilism pronunciation, mercantilism translation, English dictionary definition of mercantilism. n. 1. The theory and system of political economy prevailing in Europe after the decline of feudalism, based on national policies of accumulating bullion,...
Recent Examples on the Web. Some analysts have described the nation’s evolving trade approach as mercantilism, a government effort to prop up exports and restrain imports in pursuit of trade and financial surpluses. — Jon Hilsenrath, WSJ, "Under Trump, a Strong Economy but Murky Policy Outlook," 1 Apr. 2018 First, policymaking suffers as, instead of a coherent programme, America undergoe...
Mercantilism is a national economic policy that is designed to maximize the exports of a nation. Mercantilism was dominant in modernized parts of Europe from the 16th to the 18th centuries before falling into decline, although some commentators argue ...
Mercantilists held that a nation's wealth consisted primarily in the amount of gold and silver in its treasury. Accordingly, mercantilist governments imposed extensive restrictions on their economies to ensure a surplus of exports over imports. In the eighteenth century, mercantilism was challenged by the doctrine of laissez-faire.
Mercantilism was an economic system of trade that spanned from the 16th century to the 18th century. Mercantilism banked on the principle that the world's wealth was static, consequently, many ...
Definition of mercantilism: Body of economics thought popular during the mid 16th and late 17th centuries. It held that money was wealth, accumulation of gold and silver was the key to prosperity, and one nation's gain was ...
It is by definition impossible for both parties in a trade agreement to be net exporters. As a result, mercantilism depends on a relationship in which one nation wins and the other loses ...