How to use mercantilism in a sentence

Looking for sentences and phrases with the word mercantilism? Here are some examples.

Sentence Examples For some, Christmas is an oppressive reminder that mercantilism and materialism have replaced Christ as the heart of Christmas. Regulation then as now is a form of mercantilism that benefits some at the expense of others. As tsar he wanted to apply western mercantilism to stimulate agriculture, industry and commerce. Colbertism was an extreme form of mercantilism built around war financing schemes, high taxation, and central planning. We should not be swayed by 17th century mercantilism, which viewed imports as bad and exports as good. But even if the logic of mercantilism was correct, this strategy could never work if all nations tried to follow it simultaneously. Originally free trade was not like mercantilism, where the government monopolizes and otherwise hinders the right to trade across borders. The rise of Britain can be attributed, Ormrod argues, largely to successful and sustained mercantilism. Under mercantilism, everyone sought the advantages of being an exporter, because having a trade surplus meant that wealth was accumulating. King George wanted to forcefully impose British mercantilism on the colonies. The repeal of the Corn Law is these days commonly regarded as the ultimate victory of the classical liberal economic doctrine over wrong-headed mercantilism. Having thus established his high position and noble motive, Mun declares his rule of commerce, which may be taken as the central principle of English mercantilism. Economically, this is the hallmark of the different varieties of socialism, whether you call it communism, fascism, Marxism, mercantilism, corporativism, or what have you. The view that trade was the engine of economic growth was a central tenet of mercantilism, the European economic orthodoxy in the first half of the eighteenth century. I believe it is rational not to surrender to mercantilism the areas where market logic does not operate. As the Chinese economy falters, the leadership will be gradually inclined to rely on nationalism, close its economy and rely on mercantilism. It reduced transaction costs, of course, but it also kept major economies from using their exchange rate as a weapon of mercantilism. Instead the programs associated with Alexander Hamilton introduced a system of mercantilism, discarding free trade in favor of tariff protection for manufactured goods. The values and standards by which the EU sets such store would then once again be taking second place to crude mercantilism. Our times are dominated by a new mercantilism and our young people expect something better of us. Show More Sentences There is, as well, a close connection between mercantilism and patriotism. Privateers operated within the political economy of mercantilism, which recognized the expansion or protection of a nation's trade as a legitimate purpose of war. Once new trade routes were forged to the Americas, Africa and Asia, mercantilism involved statecraft and realpolitik as well as trade and commerce. Scholars debate over why mercantilism dominated economic ideology for 250 years. Ekelund, portrays mercantilism not as a mistake, but rather as the best possible system for those who developed it. Prior to mercantilism, the most important economic work done in Europe was by the medieval scholastic theorists. A number of scholars found important flaws with mercantilism long before Adam Smith developed an ideology that could fully replace it. Critics like Hume, Dudley North, and John Locke undermined much of mercantilism, and it steadily lost favor during the 18th century. The first school to completely reject mercantilism was the physiocrats, who developed their theories in France. Those who feel that mercantilism amounted to rent seeking hold that it ended only when major power shifts occurred. In Britain, mercantilism faded as the Parliament gained the monarch's power to grant monopolies. In France, economic control remained in the hands of the royal family, and mercantilism continued until the French Revolution. He added that mercantilism was popular among merchants because it was what is now called rent seeking. Keynes also supported government intervention in the economy as necessity, as did mercantilism. Thus, mercantilism held exports should be encouraged by the government and imports discouraged. The Count supported mercantilism and welcomed technically skilled immigrants into his lands, regardless of their religion. Capitalism in its modern form can be traced to the emergence of agrarian capitalism and mercantilism in the Renaissance. The economic doctrine prevailing from the 16th to the 18th centuries is commonly called mercantilism. Britain also abandoned its protectionist policy, as embraced by mercantilism. Indeed, many demonstrations hostile to substantial planning developments, to the mercantilism shown by some entrepreneurs and to the harmful effects brought about by certain equipment, saw the light of day. Show More Sentences The idea of mercantilism was to protect the markets as well as maintain agriculture and those who were dependent upon it. British mercantilism thus mainly took the form of efforts to control trade. It also marks the rise of the period of widespread adoption in Europe of colonialism and mercantilism. The most evident concepts of economic science must be considered as anathema if the autarchic policy, trade balances and other old chestnuts of mercantilism can be presented as extraordinary discoveries of our times. However, the companies need it for mercantilism, to sell and get profit. Amid all this raw mercantilism, is there a role for the artist? Along with a crass mercantilism, this desire for self-insurance fuelled America's asset bubble and helped produce the conditions for today's bust. As Europe and the broader world began to pull back from mercantilism and progressed onward to capitalism and free trade, we saw the unprecedented growth of prosperity. Opposite to mercantilism was the doctrine of physiocracy, which predicted that mankind would outgrow its resources. Three substantial principles provide a starting point: peace, subsidiarity and mercantilism, along with intercultural discourse as a methodical principle. In short, the Clay-Lincoln American System consisted of mercantilism, protectionism, the centralization of governmental power, and inflationism. The goal of mercantilism was to run trade surpluses, so that gold and silver would pour into London. The early modern period also included the rise of the dominance of the economic theory of mercantilism. Internationally, mercantilism encouraged the many European wars of the period and fueled European imperialism. Belief in mercantilism began to fade in the late 18th century, as the arguments of Adam Smith and the other classical economists won out. Physiocrats were opposed to mercantilism, the dominating economic theory of the time. The early modern period also saw the rise and dominance of the economic theory of mercantilism. Their philosophies found the colonial enterprise, particularly mercantilism, in opposition to the principles of free trade and liberal policies. Numerous French authors helped cement French policy around mercantilism in the 17th century. The new mercantilism has different goals and focuses on more rapid economic growth based on advanced technology. Show More Sentences While Adam Smith portrayed mercantilism as supportive of strict controls over the economy, many mercantilists disagreed. Most wars had other causes but they reinforced mercantilism by clearly defining the enemy, and justified damage to the enemy's economy. In Germany mercantilism remained an important ideology in the 19th and early 20th centuries, when the historical school of economics was paramount. The other nations of Europe also embraced mercantilism to varying degrees. Beyond mercantilism as a way of understanding the wealth and power of nations, Mun and Misselden are noted for their viewpoints on a wide range of economic matters. In Europe, academic belief in mercantilism began to fade in the late 18th century, especially in Britain, in light of the arguments of Adam Smith and the classical economists. In light of the arguments put forward by Smith and other economic theorists in Britain, academic belief in mercantilism began to decline in Britain in the late 18th century. It has long been argued that free trade is a form of colonialism or imperialism, a position taken by various proponents of economic nationalism and the school of mercantilism. The Commercial Revolution was a period of economic expansion, colonialism, and mercantilism that lasted from approximately the 16th century until the early 18th century. Physiocracy developed in France during the period of mercantilism but before Smith revolutionized economics with the publication of The Wealth of Nations. Besides those already mentioned, Rothbard provides in-depth coverage of mercantilism, French economic thought, the bullionist controversy, and Marx's economics. Examples from Classical Literature Linen in Ireland had been a perfect type of the State-created, spoon-fed industry characteristic of the period of mercantilism. Merchants accustomed to the routine of mercantilism and to state protection are pushed aside. As long as selfishness is the rule, mercantilism, not economic laissez faire, will be king. It is a throwback to earlier days of colonialism and mercantilism and it is laden with historical memories and sensitivities. In spite of mercantilism, economic questions never became in England the pre-occupation of specialists. Hence, Russian mercantilism was predominantly a state mercantilism. Find more words! 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What is the opposite of mercantilism? Words that rhyme with mercantilism What is the plural of mercantilism? What is the adverb for mercantilism? What is the adjective for mercantilism? What is the noun for mercantilism? Use our Sentence Generator Nearby Words mercantile Mercado mercado merc meranti mera mercantilist mercantilistic mercantilists mercaptan mercaptopurine mercat 12-letter Words Starting With m me mer merc merca mercan mercant mercanti mercantil mercantili mercantilis