mercantilism

listen to the pronunciation of mercantilism
English - Turkish
(isim) ticaret anlayışı
merkantilizm
{i} ticaret anlayışı

Related Terms

mercantilist
merkantilist
English - English
An economic theory that holds that the prosperity of a nation depends upon its supply of capital, and that the global volume of trade is "unchangeable"
a system where government policies are established to accumulate wealth in the form of gold and silver by promoting exports and discouraging imports
(Ekonomi) (historical) 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
An economic system usually associated with the period (1500-1750) between feudalism and the rise of the Industrial Revolution Mercantilism advocates for the economy’s subordination to the needs of the state, especially its need for power It advocates protectionism, positive balance of trade, accumulation of gold, and a global system in which colonies’ primary job is to supply natural resources to the factories of the home country More recently mercantilism can be seen in several East Asian political economies where the state and the economy are in mutually supportive relationships
an economic and political policy in which the government regulates industry, trade, and commerce with the national aim of obtaining a favorable balance of trade
Seventeenth and eighteenth century economic system in which private enterprise was allowed to function only by permission and supervision of government
transactions (sales and purchases) having the objective of supplying commodities (goods and services)
Mercantilism is a doctrine that holds that exports are good for a country, whereas imports are harmful
(From Encyclopedia com) An economic policy of the major trading nations from the 16th to the 18th cent , based on the premise that national wealth and power were best served by increasing exports and collecting precious metals in return State action, an essential feature of the mercantile system, was used to accomplish its purposes-to sell more than it bought to accumulate bullion and raw materials Under a mercantilist policy, a government exercised much control over economic life by regulating production, encouraging foreign trade, levying duties on imports to gain revenue, making treaties to obtain exclusive trading privileges, and exploiting the commerce of the colonies In England, HENRY VIII, ELIZABETH I, and Oliver CROMWELL pursued mercantilist policies; in France, J B COLBERT was the chief exponent Superseding the medieval feudal organization in Western Europe, mercantilism did not decline until the coming of the INDUSTRIAL REVOLUTION and the doctrine of laissez-faire
{i} economic system that developed after the demise of Feudalism and was based on the federal accumulation of gold and silver, policy which protects small industry and strives to export much and import little, commercialism (Economics)
Originated in the seventeenth century, when certain trading states made it their goal to accumulate national economic wealth and, in turn, national power by expanding exports and limiting imports Some analysts and policymakers have charged that countries pursuing protectionist trade policies in the twentieth century are following a similar strategy which they termed neo-mercantilism
an economic system (Europe in 18th C) to increase a nation's wealth by government regulation of all of the nation's commercial interests
the doctrine that the economic interests of a nation can be strengthened by tariffs, increased foreign trade, monopolies, and by a balance of exports over imports
DEFINITION ALSO
Economic theory and policy influential in Europe from the 16th to the 18th century that called for government regulation of a nation's economy in order to increase its power at the expense of rival nations. Though the theory existed earlier, the term was not coined until the 18th century; it was given currency by Adam Smith in his Wealth of Nations (1776). Mercantilism's emphasis on the importance of gold and silver holdings as a sign of a nation's wealth and power led to policies designed to obtain precious metals through trade by ensuring "favourable" trade balances (see balance of trade), meaning an excess of exports over imports, especially if a nation did not possess mines or have access to them. In a favourable trade balance, payments for the goods or services had to be made with gold or silver. Colonial possessions were to serve as markets for exports and as suppliers of raw materials to the mother country, a policy that created conflict between the European colonial powers and their colonies, in particular fanning resentment of Britain in the North American colonies and helping bring about the American Revolution. Mercantilism favoured a large population to supply labourers, purchasers of goods, and soldiers. Thrift and saving were emphasized as virtues because they made possible the creation of capital. Mercantilism provided a favourable climate for the early development of capitalism but was later severely criticized, especially by advocates of laissez-faire, who argued that all trade was beneficial and that strict government controls were counterproductive
the attempt to increase national wealth by building up a huge trade surplus, by exporting more than the country imports
an economic system developing during the decay of feudalism to unify and increase the power and especially the monetary wealth of a nation by a strict governmental regulation of the entire national economy usually through policies designed to secure an accumulation of bullion, a favorable balance of trade, the development of agriculture and manufactures, and the establishment of foreign trading monopolies
briefly, the view that imports are bad and exports are good
A seventeenth-century political philosophy which emphasized the importance of promoting foreign trade surpluses and securing commercial advantage over rival states
the notion, popular in the 1700s, that the wealth of a nation was based on how much it could export in excess of its imports, and thereby accumulate precious metals (chapter 17)
economic policy in which a nation attempts to profit by exporting more than it imports to build up its own economic strength through the use of tariffs and monopolies; colonial policy requiring colonies to buy only from the mother country and to sell only to the mother country
An economic system that developed during the seventeenth and eighteenth centuries that sought to increase the power of a state by strict state regulations of the entire economy and by policies designed to accumulate gold and silver, create a favorable balance of trade, and develop manufacturing
A body of policy recommendations designed to promote the development of the early nation states of western Europe in the 17th and 18th centuries The emphasis was on utilizing trade to increase national wealth at the expense of the countries being traded with through fostering a "favourable balance of trade", by which was meant an excess of exports over imports
The theories of some sixteenth and seventeenth century writers based on the belief that the gain of one man or one nation must represent the loss of another and that the precious metals were always the most desirable form of wealth In an attempt to increase a nation's wealth, they advocated the national regulation of foreign trade in a manner they thought would increase merchandise exports and hamper merchandise imports, thus creating an inflow of the precious metals This is still called a "favorable balance of trade " The nineteenth and twentieth century advocates of such policies are called neo-mercantilists See "Balance of payments " HA 53,451-52,456,664; TH 30, 297

Related Terms

mercantilist
Of, pertaining to, or believing in mercantilism
mercantilist
One who believes in mercantilism
mercantilist
(Ekonomi) (historical) of or pertaining to mercantilism or mercantilists
mercantilist
(Ekonomi) (historical) an advocate of mercantilism
mercantilism

    Hyphenation

    mer·can·ti·li·sm

    Turkish pronunciation

    mırkäntılîzım

    Pronunciation

    /mərˈkantəˌləzəm/ /mɜrˈkæntəˌlɪzəm/
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