mercantilism


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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 ?
But, says Rodrik, there has, in fact, been a cost, the new system made mercantilism a sure bet for our trading partners.
Mercantilism no longer has much of a silver lining.
Keywords: Economic nationalism, Mercantilism, Free trade, Global integration.
That earlier volume explored the different dimensions of a "bellicose mercantilism," which, having sustained an unexpectedly forceful opposition politics during the era of "Whig Ascendancy," led to a global war against Bourbon Spain and France.
As ITIF wrote in "False Promises: The Yawning Gap Between China's WTO Commitments and Practices," China's aggressive innovation mercantilism has, if anything, grown stronger in recent years, as it has sought absolute advantage across a wide range of advanced technology industries.
The second and third parts of the book are devoted to the chronological overview of the development of approaches to the issues of foreign trade from mercantilism, through the neoclassical theory of international trade to the present.
Trade Undersecretary Adrian Cristobal, who led the wreath-laying ceremonies at Baler Church with Calvo, said Spain's relationship with the Philippines had already gone beyond mercantilism owing to a common heritage forged centuries ago.
Wu opens with a detailed analysis of the economic aspects of mercantilism.
An initial focus on mercantilism, which opened new markets and sources of raw materials, evolved into capitalism, which took these profits and invested in new enterprises.
Mercantilism and liberalism have been competing ideologies based on fundamentally different concepts of states' relationships and transactions among them.
The lawyer truism that devices like these could shortly be bringing "ads and remaining communication" appears in a ceremonial submission to the US Securities and Mercantilism Delegacy (SEC) prefabricated in Dec last year but just right released.
This is why it has been called the manifesto of mercantilism (see Eltis 1987: 803, who also quotes J.