noun
- people who support or practice mercantilism, an economic theory that emphasizes maximizing exports and minimizing imports to build national wealth
Usage: economics; historical
Examples
- The mercantilists believed that a nation’s wealth depended on accumulating gold and silver.
- Early American mercantilists supported high tariffs on imported goods.
- European mercantilists in the 17th century favored strict government control of trade.
- Modern economists often criticize the mercantilists’ zero-sum view of international commerce.
- The mercantilists argued that colonies should provide raw materials to the mother country.
- Adam Smith’s theories directly challenged the ideas of the mercantilists.