Mercantilism
Definition
Mercantilism — Meaning, Definition & Full Explanation
Mercantilism is an economic theory and practice, dominant from the 16th to 18th centuries, that advocates for government regulation of a nation's economy to maximize exports and minimize imports. Its primary goal was to accumulate monetary reserves, particularly gold and silver, by maintaining a positive balance of trade to strengthen national wealth and power. This system viewed global wealth as finite, where one nation's gain came at another's expense.
What is Mercantilism?
This economic policy doctrine posits a nation's power and prosperity are directly linked to its accumulation of wealth, primarily in the form of gold and silver. Prevalent across Europe during the age of exploration and colonial expansion, this theory championed the idea of economic