mercantilism

Mercantilism, also called "commercialism,” is a system in which a country attempts to amass wealth through trade with other countries, exporting more than it imports and increasing stores of gold and precious metals. It is often considered an outdated system.

The noun mercantilism came from the Latin mercāns, or "buyer." It was a system that encouraged the idea of government trade regulation to gain wealth, a move away from agriculture system as an economic base. Although largely rejected today, it was the main school of economic thought from the 15th through the 18th Centuries, and was the push behind much of the exploration and colonization of other lands — and many of the wars — that happened during that time.

Definitions of mercantilism
1

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

Synonyms:
mercantile system
Type of:
managed economy
a non-market economy in which government intervention is important in allocating goods and resources and determining prices

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

Synonyms:
commerce, commercialism
Types:
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trading
buying or selling securities or commodities
trade
the commercial exchange (buying and selling on domestic or international markets) of goods and services
e-commerce
commerce conducted electronically (as on the internet)
exchange, interchange
reciprocal transfer of equivalent sums of money (especially the currencies of different countries)
IPO, initial offering, initial public offering
a corporation's first offer to sell stock to the public
business, business enterprise, commercial enterprise
the activity of providing goods and services involving financial and commercial and industrial aspects
carriage trade
trade from upper-class customers
importation, importing
the commercial activity of buying and bringing in goods from a foreign country
exportation, exporting
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
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
bond trading, bond-trading activity
trading in bonds (usually by a broker on the floor of an exchange)
program trading
a trading technique involving large blocks of stock with trades triggered by computer programs
short sale, short selling
sale of securities or commodity futures not owned by the seller (who hopes to buy them back later at a lower price)
short covering
the purchase of securities or commodities by a short seller to close out a short sale
insider trading
buying or selling corporate stock by a corporate officer or other insider on the basis of information that has not been made public and is supposed to remain confidential
bait and switch
a deceptive way of selling that involves advertising a product at a very low price in order to attract customers who are then persuaded to switch to a more expensive product
private treaty
a sale of property at a price agreed on by the seller and buyer without an intervening agency
bootlegging
the act of making or transporting alcoholic liquor for sale illegally
bootlegging
the act of selling illegally or without permission
capitalisation, capitalization
the sale of capital stock
tourism, touristry
the business of providing services to tourists
fishing
the occupation of catching fish for a living
butchering, butchery
the business of a butcher
tax evasion
the deliberate failure to pay taxes (usually by making a false report)
storage
the commercial enterprise of storing goods and materials
industry, manufacture
the organized action of making of goods and services for sale
fair trade
trade that is conducted legally
fair trade
trade that satisfies certain criteria on the supply chain of the goods involved, usually including fair payment for producers; often with other social and environmental considerations
free trade
international trade free of government interference
conversion
act of exchanging one type of money or security for another
field, field of operation, line of business
a particular kind of commercial enterprise
employee-owned business, employee-owned enterprise
a commercial enterprise owned by the people who work for it
finance
the commercial activity of providing funds and capital
discount business
the business of selling merchandise at a discount
real-estate business
the business of selling real estate
advertising, publicizing
the business of drawing public attention to goods and services
publication, publishing
the business of issuing printed matter for sale or distribution
printing
the business of producing printed material for sale or distribution
packaging
the business of packing
agribusiness, agriculture, factory farm
a large-scale farming enterprise
building, construction
the commercial activity involved in repairing old structures or constructing new ones
shipping, transport, transportation
the commercial enterprise of moving goods and materials
barter, swap, swop, trade
an equal exchange
smuggling
secretly importing prohibited goods or goods on which duty is due
direct marketing
marketing via a promotion delivered directly to the individual prospective customer
channel, distribution channel
a way of selling a company's product either directly or via distributors
drug traffic, drug trafficking, narcotraffic
traffic in illegal drugs
barratry, simony
traffic in ecclesiastical offices or preferments
slave trade, slave traffic
traffic in slaves; especially in Black Africans transported to America in the 16th to 19th centuries
retail
the selling of goods to consumers; usually in small quantities and not for resale
wholesale
the selling of goods to merchants; usually in large quantities for resale to consumers
sale
a particular instance of selling
syndication
selling (an article or cartoon) for publication in many magazines or newspapers at the same time
dumping
selling goods abroad at a price below that charged in the domestic market
dutch auction
a method of selling in which the price is reduced until a buyer is found
retailing
the activities involved in selling commodities directly to consumers
telecommerce, telemarketing, teleselling
the use of the telephone as an interactive medium for promotion and sales
hawking, peddling, vending, vendition
the act of selling goods for a living
venture
a commercial undertaking that risks a loss but promises a profit
resale
the selling of something purchased
sale
the general activity of selling
amortisation, amortization
payment of an obligation in a series of installments or transfers
fee splitting
payment (usually by doctors or lawyers) of part of the fee in return for the referral
overpayment
the act of paying too much
prepayment
payment in advance
ransom
payment for the release of someone
refund, repayment
the act of returning money received previously
remuneration
the act of paying for goods or services or to recompense for losses
rendering
giving in acknowledgment of obligation
disbursal, disbursement, outlay, spending
the act of spending or disbursing money
tribute
payment by one nation for protection by another
underpayment
the act of paying less than required
foreign exchange
the system by which one currency is exchanged for another; enables international transactions to take place
Type of:
dealing, dealings, transaction
the act of transacting within or between groups (as carrying on commercial activities)

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