Mercantilism

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Definition of 'Mercantilism'

The main economic system used during the sixteenth to eighteenth centuries. The main goal was to increase a nation's wealth by imposing government regulation concerning all of the nation's commercial interests. It was believed that national strength could be maximized by limiting imports via tariffs and maximizing exports.
Investopedia Says

Investopedia explains 'Mercantilism'

This approach assumes the wealth of a nation depends primarily on the possession of precious metals such as gold and silver. This type of system cannot be maintained forever, because the global economy would become stagnant if every country wanted to export and no one wanted to import. After a period of time, many people began to revolt against the idea of mercantilism and stressed the need for free trade. The continued pressure resulted in the implementation of laissez faire economics in the nineteenth century.

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'Mercantilism'

  • The History Of Capitalism: From Feudalism To Wall Street

    http://www.investopedia.com/articles/economics/08/capitalism-history.asp
    ... Mercantilism Mercantilism is now known as an attempt to create trade imbalances
    between nations, as well as between colonies and their imperial rulers, so that ...

  • Adam Smith And "The Wealth Of Nations"

    http://www.investopedia.com/articles/economics/09/adam-smith-wealth-of-nations.asp
    ... (For background reading, see Adam Smith: The Father Of Economics.) In Opposition
    to Mercantilism On March 9, 1776, "An Inquiry into the Nature and Causes of ...

  • Tablets To 1040s: How Taxes Began

    http://www.investopedia.com/articles/08/taxes.asp
    ... Mercantilism The formation of nations opened the door to international trade and
    mercantilism, but the governments quickly found locks to keep their new ...

  • What is the candle maker's petition?

    http://www.investopedia.com/ask/answers/08/candle-makers-petition.asp
    ... In many ways, it expanded on the free market argument against mercantilism set forth
    by Adam Smith, but Bastiat's target was government tariffs that were ...

  • What is comparative advantage?

    http://www.investopedia.com/ask/answers/09/law-comparative-advantage.asp
    Comparative advantage is an economic law that demonstrates the ways in which
    protectionism (mercantilism, at the time it was written) is unnecessary. ...

  • How Influential Economists Changed Our History

    http://www.investopedia.com/articles/07/economists.asp
    ... Smith's arguments against mercantilism and in favor of free trade were a stark
    challenge to much of the protectionism, tariffs and gold-hoarding that prevailed ...

  • Adam Smith: The Father Of Economics

    http://www.investopedia.com/articles/economics/08/adam-smith-economics.asp
    ... secure. Read on to learn about how this Scottish philosopher argued against
    mercantilism to become the father of modern free trade. ...

  • The History Of Economic Thought

    http://www.investopedia.com/articles/economics/08/economic-thought.asp
    ... Economics Adam Smith is widely credited for creating the field of economics, however,
    he was inspired by French writers, who shared his hatred of mercantilism. ...

  • This Week in Financial History: Speculative Bubbles, Bill Gates ...

    http://financialedge.investopedia.com/financial-edge/0310/This-Week-in-Financal-History-Speculative-Bubbles-Bill-Gates-Coca-Cola-and-Capitalism.aspx
    ... modern capitalism. Smith overturned the miserly view of mercantilism and
    gave us a vision of plenty and freedom for all. The free ...

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