Historical Economic Systems

noun a tenant farmer who gives a part of each crop as rent.

• The sharecropper worked the land in exchange for a portion of the crops produced.
• My grandpa used to be a sharecropper back in the day.
• The sharecropper hustled hard to make ends meet.
• Being stuck in that job felt like being a modern-day sharecropper, working tirelessly for little reward.

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

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• In the world of business, some still cling to the outdated principles of mercantilism.