mercantile system

[ mur-kuhn-teel sis-tuhm, -tahyl ]

noun

, Economics.

1. a system of political and economic policy, evolving with the modern national state and seeking to secure a nation's political and economic supremacy in its rivalry with other states. According to this system, money was regarded as a store of wealth, and the goal of a state was the accumulation of precious metals, by exporting the largest possible quantity of its products and importing as little as possible, thus establishing a favorable balance of trade.

Word History and Origins

Origin of mercantile system¹

First recorded in 1770–80

Example Sentences

The store was on its feet within one year, expanding in two, opening branches in three, and its descendants, a great mercantile system, now dominate a large part of the area.

From Literature

Smith repeatedly stresses that while the mercantile system does not serve the public interest, it does benefit the "principal architects" of policy, which is no less true of today's hyper-financialised, neoliberal capitalism.

From The Guardian

Even the violent opponent of the mercantile system, Boisguillebert, could not entirely escape this view.

From Project Gutenberg

Later it helped undo the mercantile system and colonialism.

From Time

But as the law for the encouragement of coinage derives its origin from these vulgar prejudices which have been introduced by the mercantile system, I judged it more proper to reserve them for this chapter.

From Project Gutenberg