Review:
Mercantilism
overall review score: 2.5
⭐⭐⭐
score is between 0 and 5
Mercantilism is an economic theory and practice that promotes governmental regulation of a nation's economy for the purpose of augmenting state power at the expense of rival national powers.
Key Features
- Focus on trade surplus
- Protectionist policies
- National wealth as the ultimate goal
Pros
- Can help protect domestic industries
- Focus on trade surplus can generate revenue for the state
Cons
- Can lead to trade wars and conflicts between nations
- May hinder economic growth by restricting free trade