Definition of mercantilism in US English:

mercantilism

noun

  • 1Belief in the benefits of profitable trading; commercialism.

    • ‘As tsar he wanted to apply western mercantilism to stimulate agriculture, industry and commerce.’
    • ‘Who benefits from mercantilism is no mystery: look at the list of lobbyists and signatories to the complaints.’
    • ‘Regulation then as now is a form of mercantilism that benefits some at the expense of others.’
    • ‘Colbertism was an extreme form of mercantilism built around war financing schemes, high taxation, and central planning.’
    • ‘We should, as a nation, decide whether to operate our nation as a constitutional republic, a nation of laws, or if instead we prefer to be a country driven and defined by corporate capitalism and mercantilism.’
    • ‘There is, as well, a close connection between mercantilism and patriotism.’
    • ‘Historians have been dubious about the benefits of mercantilism, but they have also been unanimous in attributing much of Spain's industrial and commercial underdevelopment to the absence of such policies.’
    • ‘The rise of Britain can be attributed, Ormrod argues, largely to successful and sustained mercantilism.’
    • ‘Under mercantilism, everyone sought the advantages of being an exporter, because having a trade surplus meant that wealth was accumulating.’
    • ‘Hobbes indeed borrowed a great deal from contemporary accounts of how to increase a nation's prosperity - the literature of the movement subsequently known as mercantilism.’
    • ‘Unlike the Saskatchewan approach to canola, Smith is a proponent of a cooperative mercantilism that develops local advantages and creates strong social networks regionally to provide benefits locally.’
    • ‘But even if the logic of mercantilism was correct, this strategy could never work if all nations tried to follow it simultaneously.’
    • ‘Having thus established his high position and noble motive, Mun declares his rule of commerce, which may be taken as the central principle of English mercantilism.’
    • ‘The view that trade was the engine of economic growth was a central tenet of mercantilism, the European economic orthodoxy in the first half of the eighteenth century.’
    • ‘For some, Christmas is an oppressive reminder that mercantilism and materialism have replaced Christ as the heart of Christmas.’
    1. 1.1historical The economic theory that trade generates wealth and is stimulated by the accumulation of profitable balances, which a government should encourage by means of protectionism.
      • ‘Instead the programs associated with Alexander Hamilton introduced a system of mercantilism, discarding free trade in favor of tariff protection for manufactured goods.’
      • ‘We should not be swayed by 17th century mercantilism, which viewed imports as bad and exports as good.’
      • ‘Originally free trade was not like mercantilism, where the government monopolizes and otherwise hinders the right to trade across borders.’
      • ‘King George ‘wanted to forcefully impose British mercantilism on the colonies.’’
      • ‘Privateers operated within the political economy of mercantilism, which recognized the expansion or protection of a nation's trade as a legitimate purpose of war.’

Pronunciation

mercantilism

/mərˈkæn(t)əˌlɪzəm//mərˈkan(t)əˌlizəm/