mercantilism

American  

[mur-kuhn-ti-liz-uhm, -tee-, -tahy-] / ˈmɜr kən tɪˌlɪz əm, -ti-, -taɪ- /

noun

1. mercantile practices or spirit; commercialism.

2. mercantile system.

---

mercantilism British  

/ ˈmɜːkəntɪˌlɪzəm /

noun

1. Also called: mercantile 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 Cultural  

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.)

---

Discover More

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

Other Word Forms

• mercantilist noun
• mercantilistic adjective

Etymology

Origin of mercantilism

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

Compare meaning

How does mercantilism compare to similar and commonly confused words? Explore the most common comparisons:

• mercantilism vs. capitalism