Outrageously Funny Word Dictionary :: Mercantilism

👉 Mercantilism is a theory or perspective in which states, as well as individuals and groups, place their economic interests above those of their citizens. This idea emphasizes the role of trade and commerce in shaping international relations, particularly in terms of power balance and the allocation of resources. In mercantilist thought, nations are seen as the primary actors responsible for maintaining a global competitive advantage through trade. They believe that by promoting and controlling trade, they can exert significant influence over other countries' economies

mercantilistic

👉 Mercantilism is a political philosophy that emphasizes the importance of trade and commerce in economic development. It argues that by promoting economic activities, such as trade or manufacturing, countries can increase their wealth and power, which are essential for national security, stability, and prosperity. In this perspective, mercantilists believe that states should focus on developing industries that provide a competitive advantage over rivals, rather than solely relying on agriculture and natural resources. They argue that by promoting the development of trade and commerce

mercantilism