mercantilism
[ mur-kuh n-ti-liz-uh m, -tee-, -tahy- ]
/ ˈmɜr kən tɪˌlɪz əm, -ti-, -taɪ- /
noun
mercantile practices or spirit; commercialism.
Origin of mercantilism
OTHER WORDS FROM mercantilism
mer·can·til·ist, noun, adjective mer·can·til·is·tic, adjectiveWords nearby mercantilism
mercalli scale,
mercantile,
mercantile agency,
mercantile paper,
mercantile system,
mercantilism,
mercaptan,
mercaptide,
mercapto,
mercapto group,
mercapto-
Example sentences from the Web for mercantilism
British Dictionary definitions for mercantilism
mercantilism
/ (ˈmɜːkəntɪˌlɪzəm) /
noun
Also called: mercantile system economics
a theory prevalent in Europe during the 17th and 18th centuries asserting that the wealth of a nation depends on its possession of precious metals and therefore that the government of a nation must maximize the foreign trade surplus, and foster national commercial interests, a merchant marine, the establishment of colonies, etc
a rare word for commercialism (def. 1)
Derived forms of mercantilism
mercantilist, noun, adjectiveCultural definitions for mercantilism
mercantilism
[ (mur-kuhn-tee-liz-uhm, mur-kuhn-ti-liz-uhm, mur-kuhn-teye-liz-uhm) ]
An economic doctrine that flourished in Europe from the sixteenth to the eighteenth centuries. Mercantilists held that a nation's wealth consisted primarily in the amount of gold and silver in its treasury. Accordingly, mercantilist governments imposed extensive restrictions on their economies to ensure a surplus of exports over imports. In the eighteenth century, mercantilism was challenged by the doctrine of laissez-faire. (See also Adam Smith.)
notes for mercantilism
The European quest for colonial holdings in
Asia,
Africa, and
North and
South America was partially a product of mercantile economics.