Mercantilism: meaning, definitions and examples

Best used when discussing historical economic theories and practices from the 16th to 18th centuries that were focused on maximizing trade surplus and accumulating precious metals.

• The colonization of America was driven by European powers' mercantilism.
• Mercantilism promoted governmental regulation of a nation's economy to augment state power.

Appropriate when talking about the emphasis on the maximizing of profit and commercialization, often with a critical tone regarding consumer culture.

• Many critics argue that the holiday season has become more about commercialism than about family and tradition.
• The commercialism of the music industry often prioritizes profit over artistic expression.

Used in discussions about modern economic policies that prioritize national interests, local businesses, and self-sufficiency over global trade.

• Economic nationalism is becoming more prevalent as countries look to protect their industries from foreign competition.
• The president's new tariffs are a clear example of economic nationalism.