Mercantilism is the economic doctrine that government control of foreign trade is of paramount importance for ensuring the military security of the state. In particular, it demands a positive balance of trade.
Definition of 'Mercantilism' The main economic system used during the sixteenth to eighteenth centuries. The main goal was to increase a nation's wealth by imposing government regulation concerning all of the nation's commercial interests. It was believed that national strength could be maximized by limiting imports via tariffs and maximizing exports.