/ˈməːk(ə)ntʌɪˌlɪz(ə)m/
noun
belief in the benefits
of profitable trading.
Mercantilism was an
economic theory and practice, dominant in modernized parts of Europe during the
16th to the 18th century, that promoted governmental regulation of a nation's
economy for the purpose of augmenting state power at the expense of rival
national powers.
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