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mercantilism

mercantilism

1 9.9
An old economic idea that governments control trade to make their country rich and powerful
  • noun
  • /mɜrˈkænˌtɪlɪzəm/
  • Formal
translation icon : mercantilismo
  • The decline of mercantilism in the 19th century marked a shift towards free trade and economic liberalism.
  • mercantilism to industrial capitalism

Examples

  • For instance, the Ottoman elite had no interest in mercantilism and did not even use tariffs to collect revenue.

    Academic text (2000)
  • By imperialism, protectionism, and mercantilism, nations eventually wither and weaken into third-world stagnation.

    Academic text (1991)
  • You know, the British practicing mercantilism were passed Navigation Acts saying what ships could carry what and so on.

  • France's historical mercantilism is clearly still alive, as demonstrated by its repeated efforts to hold Japanese competition at bay.

    Academic text (1990)
  • At the same time, the colonists began to calculate the difference to be gained from being independent from British laws of mercantilism.

    Academic text (2017)
  • By redirecting American manufacturing capacity to the military-industrial complex, Washington practices its own form of mercantilism.

    Blog text (32)
  • Instead, traditional balance of power politics, mercantilism, and instrumental nationalism continue all too often to make life "nasty, brutish, and short."

    Academic text (2000)
  • Eli Heckscher, the leading scholar of mercantilism, once called this part of The Wealth of Nations an emphatic piece of free trade propaganda.

    Academic text (1992)
  • The beggar-thy-neighbor strategies of mercantilism—of trade as a weapon of the state—will collapse before the strategies of globalization.

    Academic text (1991)
  • In the 18th century, British policymakers used mercantilism to strengthen the nation's economy through strict trade regulations.

Synonyms

mercantile system
vsmercantilism
  • Formal
9.5

A policy that makes a country richer by controlling trade and keeping gold and silver

stresses increasing national wealth and power more broadly

Antonyms

57 3.5

Buying and selling between countries without government taxes or limits

Surface Forms

mercantilism singular
mercantilisms plural

Morphology

mercantilism = mercantile (transparent) = mercantile + ism

The noun denotes a doctrine or system formed by adding '-ism' to 'mercantile' (relating to trade), so the meaning directly follows from the base adjective.

Etymology

The word mercantilism comes from merchant, which comes from Latin mercari meaning 'to trade', plus the ending -ism meaning 'a system or belief'. So, mercantilism is a system that sees trade and merchants as the main way for a country to become richer and more powerful.