What is Mercantilism? | History, Meaning, Pros and Cons of Mercantilism

Mercantilism a nationalist economic policy that is designed to maximize the exports and minimize the imports for an economy which spanned the 16th century to the 18th century.

Basically, it seeks to maximize the accumulation of resources within the country and use those resources for one-sided trade.

It promotes imperialism, colonialism, protectionism, currency manipulation, and tariffs and subsidies on traded goods to achieve that goal.

#mercantilism #upsc #history #economicpolicy #europeanhistory #worldhistory

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