Mercantilism definition
The doctrine that arose in Europe with the decline of feudalism, that the economic interests of the nation could be strengthened by the government by protection of home industries, as through tariffs, by increased foreign trade, as through monopolies, and by a balance of exports over imports, with a consequent accumulation of bullion.
noun
The practice, methods, or spirit of merchants; commercialism.
noun
The definition of mercantilism is an economic system centered around the belief that a government can make a nation more prosperous by regulating trade and using tariffs and other protective measures to achieve a balance of exports over imports.
When a government sets trade regulations and imposes tariffs to make sure that there is an appropriate balance of exports over imports, this method of governing is an example of mercantilism.
noun
An economic theory that holds that the prosperity of a nation depends upon its supply of capital, and that the global volume of trade is "unchangeable".
noun
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The theory and system of political economy prevailing in Europe after the decline of feudalism, based on national policies of accumulating bullion, establishing colonies and a merchant marine, and developing industry and mining to attain a favorable balance of trade.
noun
Origin of mercantilism
- mercantil(e) –ism
From American Heritage Dictionary of the English Language, 5th Edition