mercantilism

(noun)

Mercantilism is an economic theory that holds that the prosperity of a nation depends upon its supply of capital and that the global volume of trade is "unchangeable. "

Related Terms

  • Interstate commerce
  • Province of Maine
  • Royal Navy
  • smuggling
  • tariff
  • Dominion of New England
  • protectionism

(noun)

An economic theory that holds that the prosperity of a nation depends upon its supply of capital and that the global volume of trade is "unchangeable."

Related Terms

  • Interstate commerce
  • Province of Maine
  • Royal Navy
  • smuggling
  • tariff
  • Dominion of New England
  • protectionism

Examples of mercantilism in the following topics:

  • The Mercantalist System

    • Mercantilism regarded government control of foreign trade as crucial for ensuring the prosperity and military security of the nation.
    • Mercantilism was an economic doctrine which held that a nation's power depended on the value of its exports, and so the government must control all foreign trade.
    • Under mercantilism, nations sought to establish colonies to produce goods for export as a chief means of acquiring economic strength and power.
    • For Britain, the goal of mercantilism was to run trade surpluses to increase the flow of gold and silver pouring into London.
    • British mercantilism mainly took the form of efforts to control trade.
  • Trade and Economy

    • Mercantilism was the basic policy imposed by Britain on its colonies from the 1660s.
    • Mercantilism meant that the government and merchants based in England became partners with the goal of increasing political power and private wealth, to the exclusion of other empires and even merchants based in its own colonies.
    • The goal of mercantilism was to run trade surpluses so that gold and silver would pour into London.
  • An Empire of Commerce

    • The British economic policy in its American colonies was called mercantilism, which set out to maximize profits for Britain.
    • The British government imposed an economic policy called "mercantilism" on its American colonies.
    • Mercantilism meant that the government and the merchants became partners with the goal of increasing political power and private wealth at the exclusion of other empires.
    • The goal of mercantilism was to run trade surpluses so that gold and silver would pour into London.
    • Indeed, the goal of mercantilism was to enrich the mother country.
  • A Communications Revolution

    • They generally took two forms: mercantile sheets intended for the business community, which contained ship schedules, wholesale product prices, advertisements, and some foreign news; and political newspapers, which were controlled by political parties or their editors as a means of sharing their views with elite stakeholders.
  • Urban Recreation

    • In the early 1800s, newspapers had catered largely to the elite and took two forms - mercantile sheets that were intended for the business community and contained ship schedules, wholesale product prices, advertisements and some stale foreign news, and political newspapers that were controlled by political parties or their editors as a means of sharing their views with elite stakeholders.
  • The Transformation of Law

    • In the first half of the 19th century, many judges became allied with the growing class of mercantile capitalists, and this alliance came to be reflected in legal developments of the time.
  • The Coming of the English

    • Proprietors were appointed to found and govern settlements under mercantile charters granted to joint stock companies.
    • Along with agriculture, fishing, and logging, New England became an important mercantile and shipbuilding center, serving as the hub for trading between the southern colonies and Europe.
  • The Growth of Cities

    • By 1850, New York City had reestablished itself as the financial and mercantile capital of the western hemisphere.
    • George Peabody (1795–1869) developed an extensive network of financial and mercantile institutions while endowing libraries and museums and aiding the poor.
  • The Expansion of England's Empire

    • A number of English colonies were established under a system of independent Proprietary Governors, who were appointed under mercantile charters to English joint stock companies to found and run settlements.
  • The Rights of Englishmen

    • In "The Wealth of Nations", Smith argued that, rather than directing and controlling a nation's economy, the best kind of governments encouraged the development of free markets--in which trade with other nations was unfettered by mercantile policies.
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