Meaning & use
mercantilism
An economic theory holding that a nation's wealth and power grow by exporting more than it imports and hoarding gold.
See it in a sentence
Mercantilism shaped European trade policy for centuries as nations guarded their gold reserves.
Under mercantilism, colonies existed mainly to supply raw materials to the home country.
A note on using this word
Contrast with laissez-faire and free-market economics, which reject state control of trade for national wealth accumulation.
Words with a similar meaning
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Choose a synonym to suit the sentence. Meanings can overlap without being identical.
Words with an opposite meaning
free trade
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