Mercantilism - Meaning, Definition & English Examples
Mercantilism is an economic policy where nations increase wealth by exporting more than they import, often through government control of trade and accumulation of gold and silver reserves.
Definition:
Economic policy emphasizing national wealth through trade, exports, and accumulation of precious metals.
Synonyms:
protectionism, economic nationalism, trade regulation
Part of Speech:
noun
Antonyms:
free trade, laissez-faire
Common Collocations:
mercantilist policies, mercantilist economy, mercantilist system
Derivatives:
mercantilist, mercantilistic
Usage Tips:
Use 'mercantilism' to describe historical or modern trade-focused economic policies favoring state intervention.
Common Phrases:
mercantilist era, rise of mercantilism, decline of mercantilism
Etymology:
Derived from Italian 'mercante' (merchant) and French '-isme,' reflecting merchant-centric economic practices.
Examples:
- 1. Mercantilism dominated European economies in the 16th–18th centuries.
- 2. Countries practiced mercantilism to boost exports and limit imports.
- 3. Critics argue mercantilism stifles free-market competition.
- 4. Colonial powers used mercantilism to control trade routes.