Definition

A system of economic thought that emphasizes the role of government in regulating the economy to increase national wealth, often through trade, colonization, and the accumulation of precious metals.

Example

During the 16th and 17th centuries, many European countries adopted mercantilism to strengthen their economies and expand their empires.

Conversation

Have you ever studied mercantilism in history class?

Yeah, it was interesting how it shaped trade policies back then.

I found it fascinating how countries tried to accumulate wealth through mercantilism.

Exactly! It really changed the way nations interacted with each other.

Synonyms & Antonyms

Root Explanation

Mercantilism is derived from "mercantilis" (from Latin, meaning commercial or pertaining to trade) and the suffix "-ism" (meaning a practice or system). The term refers to an economic theory that emphasizes the importance of trade and commerce in a nation's wealth and power.

Memory Tip

Think of 'mercantilis' which relates to trade, and remember that 'mercantilism' is all about the system of trade and commerce.

Visually Confused Words