mercantilism

Meanings

Plural: mercantilisms

Noun

• an economic system (Europe in 18th century) to increase a nation's wealth by government regulation of all of the nation's commercial interests
• transactions (sales and purchases) having the objective of supplying commodities (goods and services)
• The theory that a nation must always have a positive balance of trade, in the manner that a merchant would operate a shop. Typically this model presupposes protectionism.
• The theory that holds that the prosperity of a nation depends upon its supply of capital, and that the global volume of trade is unchangeable.

Synonyms

commerce, commercialism, mercantile system

Related Words

mercantilist, mercantilistic, merchant