economy

definition of mercantilism

Mercantilism was a system of economic ideas that prevailed in Europe from the sixteenth century and that held that the importance and wealth of a nation depended almost entirely on its commercial activity. This economic theory arose at a historical moment in which Europe was beginning to emerge from the commercial closure that it had experienced in the Middle Ages and in which, in addition, trade was beginning to gain a place as the main activity from which to obtain important monetary gains. .

Mercantilism, as its name implies, based its foundations on the notion that trade and the establishment of a firm internal market should be the main axes of any modern state that wanted to be successful and strong. Thinkers such as Adam Smith, Jean Bodin or Jean Baptiste Colbert would be the main responsible for spreading and defending this theory, by which the new states had to seek by all means to increase their coffers with commercial activities.

It is not by chance that mercantilist theory appeared at a historical moment in which commerce was experiencing an interesting revival. Furthermore, one cannot ignore the fact that by the time this theory began to grow stronger, Europe had already come into contact with the New World, such that remittances of silver, gold and other riches were becoming more and more important.

At the same time that it sought to encourage trade and the establishment of powerful internal markets, this theory also implied the active and direct participation of the State to guide and control all those instances that had to do with its success. In this way, the modern state would be characterized as a state with clearly centralized power and positive interference in the economy, unlike what would happen later in times of greater economic liberalism.

$config[zx-auto] not found$config[zx-overlay] not found