Merchantilism financial definition of Merchantilism
mercantilism (redirected from Merchantilism)
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mercantilism a set of economic ideas and policies that became established in England during the 17th century, accompanying the rise of commercial capitalism. The mercantilists stressed the importance of trade and commerce as the source of the nation's wealth, and advocated policies to increase a nation's wealth and power by encouraging exports and discouraging imports in order to allow the country to amass quantities of GOLD. These protectionist ideas (see PROTECTIONISM) were criticized by later classical economists like Adam SMITH.
References in periodicals archive
The great irony is that the leap backward to merchantilism
is led by an Attorney General with an Adam Smith necktie.