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
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Mercantilism was an economic theory that dominated European trade policies in the 16th to 18th centuries.
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Back in the day, mercantilism was all about maximizing exports and accumulating wealth.
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Some people think mercantilism is just a fancy word for old-school capitalism.
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In the world of business, some still cling to the outdated principles of mercantilism.