Mercantilism

Mercantilism,

Definition of Mercantilism:

  1. Body of economics thought popular during the mid 16th and late 17th centuries. It held that money was wealth, accumulation of gold and silver was the key to prosperity, and one nations gain was anothers loss. Supported by economists such as Gerard de Malynes (1586-1641), Edward Misselden (1608-54), and Sir Thomas Mun (1571-1641) in the UK, Jean Baptiste Colbert (1619-83) in France ,and Antonio Serra in Italy (1570-?), it exhorted governments to maintain surplus of exports over imports through tariffs (duties), colonialism, and other such measures. Mercantilisms demise was initiated by David Hume, Adam Smith (who coined the term), and other classical economist (see Classical Economics) who saw it as serving only the merchant class and argued that real wealth was to be equated with full employment through greater production of goods and services. In more recent times, the mercantilism dogma was revived by the UK economist John Maynard Keynes (1883-1946) when he stated that a surplus in balance-of-trade stimulates demand, thus increasing the national wealth. When corporations, politicians, and unions demand control over imports through higher-duties to protect local jobs and industries, they are resorting to mercantilism. See also laissez faire economics.

  2. First popularized in Europe during the 1500s, mercantilism was based on the idea that a nation's wealth and power were best served by increasing exports, in an effort to collect precious metals like gold and silver.

  3. Belief in the benefits of profitable trading; commercialism.

  4. Mercantilism was an economic system of trade that spanned from the 16th century to the 18th century. Mercantilism is based on the principle that the world's wealth was static, and consequently, many European nations attempted to accumulate the largest possible share of that wealth by maximizing their exports and by limiting their imports via tariffs.

How to use Mercantilism in a sentence?

  1. Mercantilism was an economic system of trade that spanned from the 16th century to the 18th century.
  2. Mercantilism was based on the idea that a nation's wealth and power were best served by increasing exports and so involved increasing trade.
  3. Johnny, Dave and Susie are competing for resources and land in Settlers of Catan, a game where ever increased production, coupled with selfish trading behavior, rewards the players with the strongest sense of mercantilism .
  4. Under mercantilism, nations frequently engaged their military might to ensure local markets and supply sources were protected, to support the idea that a nation's economic health heavily relied on its supply of capital.
  5. Who benefits from mercantilism is no mystery: look at the list of lobbyists and signatories to the complaints.
  6. The philosophy of mercantilism in centuries past was a problem for foreign policy, and frequently caused stress between nations. The countries who held this belief close to their heart frequently were at conflict with their neighbors.
  7. The economy of the United States started to decline when they abandoned mercantilism in favor of cheaper outsourced labor in other countries.

Meaning of Mercantilism & Mercantilism Definition

Mercantilism,

Mercantilism:

  1. Mercantilism definition is: Brian Barnier is the chief analyst at Value Bridge Advisors, co-founder and editor-in-chief of Fedishboard.com, and a visiting professor at the Colin Powell School of City University in New York City.

    • Mercantilism was an economic trading system that stretched from the 16th to the 18th century.
    • Mercantilism is based on the idea that an increase in exports and therefore an increase in trade means that a country's wealth and power can be better served.
    • In commercialism, countries often use their military power to ensure the protection of local markets and logistical resources in order to support the idea that a country's economic health is more dependent on the provision of its capital.

Meanings of Mercantilism

  1. Believe in the benefits of a profitable business.

Sentences of Mercantilism

  1. It's no secret who benefited from the trade - check the list of lobbies and signatures.

Synonyms of Mercantilism

democracy , free enterprise , free market , competition , laissez faire economics , private enterprise , industrialism , commercialism

Mercantilism,

Mercantilism:

Brian Barnier is the director, co-founder and editor of Atax at Weltbridge Advisors, and a visiting professor at Colin Powell School, New York City University.

  • Mercantilism was an economic trading system that lasted from the 16th to the 18th century.
  • Mercantilism is based on the idea that a country's wealth and power are enhanced by increasing exports and therefore increasing trade.
  • In commercialism, countries often use their military might to secure local markets and sources of supply to support the notion that a country's economic health depends heavily on its capital supply. ۔

Mercantilism,

What is The Definition of Mercantilism?

  1. Meaning of Mercantilism: Will Canton specializes in investment and business legislation and regulation. Prior to that, he held senior positions at Investopedia and Kapitall Wire, and earned an MA and PhD in Economics from the New School for Social Research. Doctor of Philosophy of English Literature from NYU.

    • Mercantilism was an economic trading system that lasted from the 16th to the 18th century.
    • Mercantilism is based on the idea that a country's wealth and power are better represented by increasing exports and therefore increasing trade.
    • In commercialism, countries often use their military power to ensure the protection of local markets and sources of supply in order to support the idea that a country's economic health is highly dependent on its capital supply. ۔