Mercantilism Definition Us History. Keep reading to find out more for the apush exam! Meaning, pronunciation, picture, example sentences, grammar, usage notes, synonyms and more.
Mercantilism was a popular economic philosophy in the 17th and 18th centuries. An overview of the history and significance of mercantilism. Mercantilism is an economic policy that believes that trade generates wealth, and the economy is stimulated by the accumulation of profitable balances.
By the time the term mercantile system was coined in 1776 by the scottish philosopher adam smith, european states had been trying for two centuries to put mercantile theory into practice.
Mercantilism was the theory of trade espoused by the major european powers from roughly 1500 to 1800. Mercantilism is an economic practice by which governments used their economies to augment state power at the expense of other countries. In this system, the british colonies were moneymakers for the mother country. For example, a car made in the united states and sold in japan is an export from the united states.