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mercantile system

/ˈmɜːrkəntaɪl ˈsɪstəm/

1 entry

phrase

/ˈmɜːrkəntaɪl ˈsɪstəm/C1formalpoliticalobsolete
  • ruЭкономическая теория и практика, господствовавшая в Европе с XVI по XVIII век, согласно которой богатство и могущество нации лучше всего обеспечиваются увеличением экспорта и накоплением драгоценных металлов, часто путем строгого государственного регулирования экономики и колониальной эксплуатации.

An economic theory and practice, dominant in Europe from the 16th to the 18th century, which held that a nation's wealth and power were best served by increasing exports and accumulating precious metals, often through strict government regulation of the economy and colonial exploitation.

  1. Economic policyC1formal

    An economic theory and practice common in Europe from the 16th to the 18th century that promoted governmental regulation of a nation's economy to augment state power at the expense of rival national powers.

    ruЭкономическая политика

    • The mercantile system encouraged exports over imports to build national wealth.
    • Under the mercantile system, colonies existed primarily to enrich the mother country.
    • Adam Smith's 'The Wealth of Nations' was a direct critique of the mercantile system.