mercantilism

[ mur-kuhn-ti-liz-uhm, -tee-, -tahy- ]

noun

1. mercantile practices or spirit; commercialism.
2. mercantile system.

mercantilism

/ ˈmɜːkəntɪˌlɪzəm /

noun

1. Also calledmercantile system economics a theory prevalent in Europe during the 17th and 18th centuries asserting that the wealth of a nation depends on its possession of precious metals and therefore that the government of a nation must maximize the foreign trade surplus, and foster national commercial interests, a merchant marine, the establishment of colonies, etc
2. a rare word for commercialism

mercantilism

1. An economic doctrine that flourished in Europe from the sixteenth to the eighteenth centuries. 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 . ( See also Adam Smith .)

Notes

The European quest for colonial holdings in Asia , Africa , and North and South America was partially a product of mercantile economics.

Derived Forms

• ˈmercanˌtilist, nounadjective

Other Words From

• mercan·til·ist noun adjective
• mercan·til·istic adjective

Word History and Origins

Origin of mercantilism¹

From the French word mercantilisme, dating back to 1870–75. See mercantile, -ism

Example Sentences

“The advent of sailing ships led to mercantilism, and shaped capitalism.”

From Washington Times

When the decisive vote came in April, Madison attributed his defeat to “the exertions and influence of Aristocracy, Anglicism, and mercantilism” led by “the Banks, the British Merchts., the insurance Comps.”

From Literature

It believes the only way to woo White working-class voters is to engage in a set of Trump-lite economic policies — chiefly protectionism and mercantilism.

From Washington Post

China has apparently demonstrated that mercantilism can be an effective economic strategy.

From New York Times

Tai said she plans to hold “frank” conversations with Chinese officials and warned that the United States would take “all steps necessary” to defend workers against fallout from Beijing’s mercantilism.

From Washington Post