MERCANTILISM

commerce, commercialism, mercantilism

(noun) transactions (sales and purchases) having the objective of supplying commodities (goods and services)

mercantilism, mercantile system

(noun) an economic system (Europe in 18th century) to increase a nation’s wealth by government regulation of all of the nation’s commercial interests

Source: WordNet® 3.1

Etymology

Noun

mercantilism (countable and uncountable, plural mercantilisms)

(historical, economics) The theory that a nation must always have a positive balance of trade, in the manner that a merchant would operate a shop. Typically this model presupposes protectionism.

(economics) The theory that holds that the prosperity of a nation depends upon its supply of capital, and that the global volume of trade is unchangeable.

Source: Wiktionary

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