mercantile system

American  

[mur-kuhn-teel sis-tuhm, -tahyl] / ˈmɜr kənˌtil ˌsɪs təm, -ˌtaɪl /

noun

Economics.

1. a system of political and economic policy, evolving with the modern national state and seeking to secure a nation's political and economic supremacy in its rivalry with other states. According to this system, money was regarded as a store of wealth, and the goal of a state was the accumulation of precious metals, by exporting the largest possible quantity of its products and importing as little as possible, thus establishing a favorable balance of trade.

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Etymology

Origin of mercantile system

First recorded in 1770–80

Example Sentences

See Examples For:

mercantile system

He also thought that these free trade deals would essentially be corrupted by the people who make the deal, which he called the mercantile system.

From Salon ● Feb. 1, 2025

The store was on its feet within one year, expanding in two, opening branches in three, and its descendants, a great mercantile system, now dominate a large part of the area.

From "East of Eden" by John Steinbeck

Before the peace of 1783, the writings of Adam Smith had gravely shaken belief in the mercantile system of extraordinary trade regulation and protection as conducive to national prosperity.

From Sea Power in its Relations to the War of 1812 Volume 1 by Mahan, A. T. (Alfred Thayer)

But external trade is regulated by governments on the principles of the mercantile system.

From Household Administration Its Place in the Higher Education of Women by Various

A reaction in England against the mercantile system produced a complete revolution in political economy.

From Principles Of Political Economy Abridged with Critical, Bibliographical, and Explanatory Notes, and a Sketch of the History of Political Economy by Mill, John Stuart