mercantilism


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mer·can·til·ism

 (mûr′kən-tē-lĭz′əm, -tĭ-)
n.
1. The theory and system of political economy prevailing in Europe after the decline of feudalism, based on national policies of accumulating bullion, establishing colonies and a merchant marine, and developing industry and mining to attain a favorable balance of trade.
2. The practice, methods, or spirit of merchants; commercialism.


mer′can·til·ist adj. & n.
mer′can·til·is′tic adj.

mercantilism

(ˈmɜːkəntɪˌlɪzəm)
n
1. (Economics) economics Also called: mercantile system a theory prevalent in Europe during the 17th and 18th centuries asserting that the wealth of a nation depends on its possession of precious metals and therefore that the government of a nation must maximize the foreign trade surplus, and foster national commercial interests, a merchant marine, the establishment of colonies, etc
2. (Commerce) a rare word for commercialism1
ˈmercanˌtilist n, adj
ˌmercantiˈlistic adj

mer•can•til•ism

(ˈmɜr kən tɪˌlɪz əm, -ti-, -taɪ-)

n.
1. an economic and political policy, evolving with the modern nation-state, in which a government regulated the national economy with a view to the accumulation of gold and silver, esp. by achieving a balance of exports over imports.
2. mercantile practices or spirit; commercialism.
[1870–75; < French]
mer′can•til•ist, n., adj.
mer`can•til•is′tic, adj.

mercantilism

a political and economic policy seeking to advance a state above others by accumulating large quantities of precious metals and by exporting in large quantity while importing in small. — mercantilist, n. — mercantilistic, adj.
See also: Economics
ThesaurusAntonymsRelated WordsSynonymsLegend:
Noun1.mercantilism - an economic system (Europe in 18th century) to increase a nation's wealth by government regulation of all of the nation's commercial interestsmercantilism - an economic system (Europe in 18th century) to increase a nation's wealth by government regulation of all of the nation's commercial interests
managed economy - a non-market economy in which government intervention is important in allocating goods and resources and determining prices
Europe - the 2nd smallest continent (actually a vast peninsula of Eurasia); the British use `Europe' to refer to all of the continent except the British Isles
2.mercantilism - transactions (sales and purchases) having the objective of supplying commodities (goods and services)mercantilism - transactions (sales and purchases) having the objective of supplying commodities (goods and services)
trading - buying or selling securities or commodities
trade - the commercial exchange (buying and selling on domestic or international markets) of goods and services; "Venice was an important center of trade with the East"; "they are accused of conspiring to constrain trade"
e-commerce - commerce conducted electronically (as on the internet)
interchange, exchange - reciprocal transfer of equivalent sums of money (especially the currencies of different countries); "he earns his living from the interchange of currency"
initial offering, initial public offering, IPO - a corporation's first offer to sell stock to the public
business enterprise, commercial enterprise, business - the activity of providing goods and services involving financial and commercial and industrial aspects; "computers are now widely used in business"
shipping, transport, transportation - the commercial enterprise of moving goods and materials
carriage trade - trade from upper-class customers
transaction, dealing, dealings - the act of transacting within or between groups (as carrying on commercial activities); "no transactions are possible without him"; "he has always been honest is his dealings with me"
importation, importing - the commercial activity of buying and bringing in goods from a foreign country
exporting, exportation - the commercial activity of selling and shipping goods to a foreign country
marketing - the commercial processes involved in promoting and selling and distributing a product or service; "most companies have a manager in charge of marketing"
distribution - the commercial activity of transporting and selling goods from a producer to a consumer
marketing, merchandising, selling - the exchange of goods for an agreed sum of money
traffic - buying and selling; especially illicit trade
defrayal, defrayment, payment - the act of paying money
evasion, nonpayment - the deliberate act of failing to pay money; "his evasion of all his creditors"; "he was indicted for nonpayment"
usance - the period of time permitted by commercial usage for the payment of a bill of exchange (especially a foreign bill of exchange)
commercialise, commercialize, market - make commercial; "Some Amish people have commercialized their way of life"
buy, purchase - obtain by purchase; acquire by means of a financial transaction; "The family purchased a new car"; "The conglomerate acquired a new company"; "She buys for the big department store"
take - buy, select; "I'll take a pound of that sausage"
get - purchase; "What did you get at the toy store?"
clear - sell; "We cleared a lot of the old model cars"
turn - get by buying and selling; "the company turned a good profit after a year"
negociate - sell or discount; "negociate securities"
sell - exchange or deliver for money or its equivalent; "He sold his house in January"; "She sells her body to survive and support her drug habit"
sell short - sell securities or commodities or foreign currency that is not actually owned by the seller, who hopes to cover (buy back) the sold items at a lower price and thus to earn a profit
remainder - sell cheaply as remainders; "The publisher remaindered the books"
resell - sell (something) again after having bought it
deaccession - sell (art works) from a collection, especially in order to raise money for the purchase of other art works; "The museum deaccessioned several important works of this painter"
fob off, foist off, palm off - sell as genuine, sell with the intention to deceive
realise, realize - convert into cash; of goods and property
auction, auction off, auctioneer - sell at an auction
sell, trade, deal - do business; offer for sale as for one's livelihood; "She deals in gold"; "The brothers sell shoes"
transact - conduct business; "transact with foreign governments"
deal - sell; "deal hashish"
retail - sell on the retail market
wholesale - sell in large quantities
liquidize, sell out, sell up - get rid of all one's merchandise
trade in, trade - turn in as payment or part payment for a purchase; "trade in an old car for a new one"
merchandise, trade - engage in the trade of; "he is merchandising telephone sets"
traffic - trade or deal a commodity; "They trafficked with us for gold"
arbitrage - practice arbitrage, as in the stock market
turn over - do business worth a certain amount of money; "The company turns over ten million dollars a year"
Translations

mercantilism

[ˈmɜːkəntɪlɪzəm] Nmercantilismo m

mercantilism

References in periodicals archive ?
In the course of writing what has come to be considered the foundation stone of modern economics, Smith inveighed against the failures of the system that he perceived had dominated England and Europe up to that time, a system he called mercantilism. Mercantilism was a system in which the government was deeply involved in the operation of the economy, providing subsidies, bounties, and monopolistic privileges to individual companies through the assignment of exclusive privileges and trading rights.
Many large American companies now embrace a modern form of mercantilism. Mercantilism, which came to predominance in Europe near the end ol' feudalism, was an economic system in which the government regulated the economy and foreign trade with the objective of limiting imports and maximizing exports.
In the preface, Alan Atkinson describes the company as 'a powerful combination of free and state enterprise', characteristic of the period which followed the Napoleonic Wars but also with a hint of eighteenth-century mercantilism. The book has a good index.
"We cannot go on supporting this global movement of mercantilism," he said, adding that indigenous people show the world how to treat water.
Perhaps the most coherent grouping of essays comes in the second section, entitled 'Mercantilism', focusing as it does on the slow transformation of economic thinking in Spain and Britain during the eighteenth century, a transformation fuelled by the twin concerns of making the colonies profitable for the Crown and the wish of individual traders to be let in on the act, which also laid the foundations for modern commodity capitalism in the process.
Knick Harley's essay in The Cambridge History on "Trade, Discovery, Mercantilism and Technology" briefly discusses repeal of the Corn Laws while Ottaway relates reform to poor laws.
This history of oppression, he writes, is imposed via five principles: corporate power; state mercantilism; privileges granted to certain groups; the transfer of wealth within a closed environment; and the laws governing politics.
Mercantilism, an economic practice embraced by the Spanish crown and prevalent throughout most of Europe, relied on slave labor in the conversion of raw materials into finished products for Spanish consumption.
Could these changes usher in a new form of mercantilism?
Bursting out of the box--flexing up first in time first in right, and moving beyond mercantilism.