Definitions for mercantilism
ˈmɜr kən tɪˌlɪz əm, -ti-, -taɪ-mer·can·til·ism

Princeton's WordNetRate this definition:3.5 / 4 votes

1. mercantilism, mercantile systemnoun

   an economic system (Europe in 18th century) to increase a nation's wealth by government regulation of all of the nation's commercial interests

2. commerce, commercialism, mercantilismnoun

   transactions (sales and purchases) having the objective of supplying commodities (goods and services)

WiktionaryRate this definition:3.7 / 3 votes

1. mercantilismnoun

   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".

WikipediaRate this definition:0.0 / 0 votes

1. Mercantilism

   Mercantilism is an economic policy that is designed to maximize the exports and minimize the imports for an economy. It promotes imperialism, colonialism, tariffs and subsidies on traded goods to achieve that goal. The policy aims to reduce a possible current account deficit or reach a current account surplus, and it includes measures aimed at accumulating monetary reserves by a positive balance of trade, especially of finished goods. Historically, such policies frequently led to war and motivated colonial expansion. Mercantilist theory varies in sophistication from one writer to another and has evolved over time. It promotes government regulation of a nation's economy for the purpose of augmenting state power at the expense of rival national powers. High tariffs, especially on manufactured goods, were almost universally a feature of mercantilist policy. Before it fell into decline, mercantilism was dominant in modernized parts of Europe and some areas in Africa from the 16th to the 19th centuries, a period of proto-industrialization. Some commentators argue that it is still practised in the economies of industrializing countries, in the form of economic interventionism.With the efforts of supranational organizations such as the World Trade Organization to reduce tariffs globally, non-tariff barriers to trade have assumed a greater importance in neomercantilism.

ChatGPTRate this definition:0.0 / 0 votes

1. mercantilism

   Mercantilism is an economic theory and practice predominant in Europe from the 16th to the 18th century, which advocates that government regulation of a nation's economy is key to augmenting state power at the expense of rival national powers. It includes a national economic policy aimed at accumulating monetary reserves through a positive balance of trade, particularly of finished goods. High import tariffs, especially on manufactured goods, are an almost universal feature of mercantilist policy.

WikidataRate this definition:5.0 / 3 votes

1. Mercantilism

   Mercantilism is the economic doctrine that government control of foreign trade is of paramount importance for ensuring the military security of the country. In particular, it demands a positive balance of trade. Mercantilism dominated Western European economic policy and discourse from the 16th to late-18th centuries. Mercantilism was a cause of frequent European wars in that time and motivated colonial expansion. Mercantilist theory varied in sophistication from one writer to another and evolved over time. Favours for powerful interests were often defended with mercantilist reasoning. High tariffs, especially on manufactured goods, are an almost universal feature of mercantilist policy. Other policies have included: ⁕Building a network of overseas colonies; ⁕Forbidding colonies to trade with other nations; ⁕Monopolizing markets with staple ports; ⁕Banning the export of gold and silver, even for payments; ⁕Forbidding trade to be carried in foreign ships; ⁕Export subsidies; ⁕Promoting manufacturing with research or direct subsidies; ⁕Limiting wages; ⁕Maximizing the use of domestic resources; ⁕Restricting domestic consumption with non-tariff barriers to trade. Mercantilism in its simplest form was bullionism, but mercantilist writers emphasized the circulation of money and rejected hoarding. Their emphasis on monetary metals accords with current ideas regarding the money supply, such as the stimulative effect of a growing money supply. Specie concerns have since been rendered moot by fiat money and floating exchange rates. In time, the heavy emphasis on money was supplanted by industrial policy, accompanied by a shift in focus from the capacity to carry on wars to promoting general prosperity. Mature neomercantilist theory recommends selective high tariffs for "infant" industries or to promote the mutual growth of countries through national industrial specialization. Currently, advocacy of mercantilist methods for maintaining high wages in advanced economies are popular among workers in those economies, but such ideas are rejected by most policymakers and economists.

Matched Categories

1. • Managed Economy
   • Transaction

How to pronounce mercantilism?

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How to say mercantilism in sign language?

Numerology

1. Chaldean Numerology

   The numerical value of mercantilism in Chaldean Numerology is: 9

2. Pythagorean Numerology

   The numerical value of mercantilism in Pythagorean Numerology is: 1

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References

1. ^ Princeton's WordNet
   http://wordnetweb.princeton.edu/perl/webwn?s=mercantilism
2. ^ Wiktionary
   https://en.wiktionary.org/wiki/Mercantilism
3. ^ Wikipedia
   https://en.wikipedia.org/wiki/Mercantilism
4. ^ ChatGPT
   https://chat.openai.com
5. ^ Wikidata
   https://www.wikidata.org/w/index.php?search=mercantilism