mercantilism

Laura LaHaye
From The New Palgrave Dictionary of Economics, Second Edition, 2008
Edited by Steven N. Durlauf and Lawrence E. Blume
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Abstract

Mercantilism is economic nationalism that seeks to limit the competition faced by domestic producers. It refers to the economic thought and policies that were characteristic of the dominant Western European trading nations during the transition from feudalism to modern capitalism from the 16th to the late 18th century. It is often depicted as the school of thought that confused money with wealth, promoting a favourable balance of trade as the best method to increase the wealth of a nation that did not possess gold or silver mines.
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How to cite this article

LaHaye, Laura. "mercantilism." The New Palgrave Dictionary of Economics. Second Edition. Eds. Steven N. Durlauf and Lawrence E. Blume. Palgrave Macmillan, 2008. The New Palgrave Dictionary of Economics Online. Palgrave Macmillan. 01 August 2014 <http://www.dictionaryofeconomics.com/article?id=pde2008_M000144> doi:10.1057/9780230226203.1083

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