Pronunciation: /ˈmɜrkəntəˌlɪzəm/
noun an economic theory and practice that promotes governmental regulation of a nation's economy for the purpose of increasing state power and building wealth through exports
A1 Mercantilism was an economic system used by European countries in the 16th to 18th centuries.
A2 The policy of mercantilism focused on increasing a nation's wealth through trade and the accumulation of precious metals.
B1 Mercantilism led to the establishment of colonies to provide raw materials and serve as markets for finished goods.
B2 The mercantilist policies of tariffs and subsidies were aimed at protecting domestic industries and promoting exports.
C1 Critics of mercantilism argue that it stifled economic growth and innovation by favoring state intervention over free market principles.
C2 The transition from mercantilism to laissez-faire capitalism marked a significant shift in economic thinking and policy.
formal Mercantilism was an economic theory that dominated European trade policies in the 16th to 18th centuries.
informal Back in the day, mercantilism was all about maximizing exports and accumulating wealth.
slang Some people think mercantilism is just a fancy word for old-school capitalism.
figurative In the world of business, some still cling to the outdated principles of mercantilism.
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