View example sentences, synonyms and word forms for Mercantilism.
Mercantilism
Mercantilism meaning
The theory that a nation must always have a positive balance of trade, in the manner that a merchant would operate a shop. Typically this model presupposes protectionism. | The theory that holds that the prosperity of a nation depends upon its supply of capital, and that the global volume of trade is unchangeable.
Synonyms of Mercantilism
Example sentences (20)
Capitalism, social stratification, the culture of mercantilism—without these, there would be no barista to take an order and no espresso stand to begin with.
China’s mercantilism, its worldwide quest for resources, markets and bases, and its attempts to carve out a Sinosphere of influence will now face intense opposition from US allies and partners.
In so doing, it will have to call out impunity and entitlement, and stop the sort of silly mercantilism pervasive in trade and industry.
A number of scholars found important flaws with mercantilism long before Adam Smith developed an ideology that could fully replace it.
A system of mercantilism in commercial monopolies was established.
At first the countries followed mercantilism designed to strengthen the home economy at the expense of rivals, so the colonies were usually allowed to trade only with the mother country.
Beyond mercantilism as a way of understanding the wealth and power of nations, Mun and Misselden are noted for their viewpoints on a wide range of economic matters.
British mercantilism thus mainly took the form of efforts to control trade.
England began a large-scale and integrative approach to mercantilism during the Elizabethan Era (1558–1603).
For Smith, mercantilism was the enemy of human liberty.
He established the first state bank in Russia, rejected the nobility's monopoly on trade and encouraged mercantilism by increasing grain exports and forbidding the import of sugar and other materials that could be found in Russia. citation.
However, trade opportunities were restricted by the mercantilism of the British and French empires.
In accordance to the mercantilism of the era, trade and industry was concentrated to cities where it was easier to control, and Stockholm was of central importance.
In Britain, mercantilism faded as the Parliament gained the monarch's power to grant monopolies.
In the cities the new economic principles of the Enlightenment called for the destruction of the autonomous guilds, already weakened during the age of mercantilism.
It also came down on the side of economic liberalism (as opposed to mercantilism ) in the economic debate then raging in republican circles (and therefore promised to do away with guilds and internal impediments to trade).
Jean-Baptiste Colbert 's work in 17th-century France came to exemplify classical mercantilism.
Keynes also supported government intervention in the economy as necessity, as did mercantilism.
Louis A. Landa presents Swift's A Modest Proposal as a critique of the popular and unjustified maxim of mercantilism in the 18th century that "people are the riches of a nation".
Mercantilism fueled the imperialism of this era, as many nations expended significant effort to conquer new colonies that would be sources of gold (as in Mexico) or sugar (as in the West Indies), as well as becoming exclusive markets.