1.
Mercantilism is economic nationalism for the
purpose of building a wealthy and powerful state. Adam Smith coined the term “mercantile system”
to describe the system of political economy that sought to enrich the country
by restraining imports and encouraging exports.
2.
Mercantilism is economic nationalism for the
purpose of building a wealthy and powerful state. Adam Smith coined the term “mercantile system”
to describe the system of political economy that sought to enrich the country
by restraining imports and encouraging exports (LaHaye 1)
3.
Mercantilism builds a wealthy and
powerful state by restraining imports and encouraging exports.
4.
In conclusion, mercantilism builds
a wealthy and powerful state by restraining imports and encouraging exports as
explained in the coined term “mercantile system”.
