mercantilist

Definition

Relating to an economic system prevalent in the 16th to 18th centuries that prioritized government control of trade to increase a nation's wealth and power, typically through exporting more than importing.

Etymology

Derived from the French 'mercantile' and Italian 'mercante,' meaning merchant, it describes the economic theories that viewed global wealth as a fixed resource to be gained through state-managed commerce.

In the news

The article uses the term to describe the older economic order that was replaced by modern market capitalism, highlighting how pre-capitalist policies were focused on nationalistic economic objectives.

Capitalism, as Told by Its Enemies: News Article

Independent Institute

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