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

Adam Smith wrote “The Wealth of Nations” to denounce mercantilism, the crony capitalism of his day.

From The Daily Beast

Morici blames the return of stagflation on "Chinese mercantilism" as its government fixes oil prices at home at low levels.

From The Daily Beast

"If you want to know why there are riots in Egypt, it's because of Chinese mercantilism," he says.

From The Daily Beast

In spite of mercantilism, economic questions never became in England the pre-occupation of specialists.

From Project Gutenberg

Indeed it has been fairly observed that Hume retains an attitude of refined mercantilism.

From Project Gutenberg

The Spanish trade regulations; mercantilism; the staple cities.

From Project Gutenberg

Hence, Russian mercantilism was predominantly a state mercantilism.

From Project Gutenberg

Mercantilism was still in the ascendant when Adam Smith came to write.

From Project Gutenberg