mercantile system


noun Economics.

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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Origin of mercantile system

First recorded in 1770–80
Dictionary.com Unabridged Based on the Random House Unabridged Dictionary, © Random House, Inc. 2020