mercantilism
UK[ˈmɜːkəntaɪlɪzəm]US[ˈmɜːrkəntɪlɪzəm]
n
an economic theory and practice that dominated europe from the 16th to the 18th century, advocating that a nation's wealth and power are best served by increasing exports and accumulating precious metals.
n
a system of policies and practices where the government regulates a nation's economy to augment state power at the expense of rival nations.
Morpheme Breakdown
mercant
il
ism
mercant
merchant
il
relating to
ism
system or doctrine
Etymology
the term mercantilism is built upon the core concept of the merchant. it originates from the latin verb 'mercari', meaning to trade or buy, which also gave rise to 'merchant'. the suffix '-il' forms the adjective 'mercantile', pertaining to trade or commerce. finally, the addition of the doctrinal suffix '-ism' transforms it into a noun describing the economic system centered on commercial interests. thus, the word's literal construction traces a path from the basic act of trading to the formalized state policy of prioritizing commercial wealth as the foundation of national power.
Analysis
Structure: mercant (merchant) + il (relating to) + ism (system or doctrine)
mercant is from italian 'mercante' (merchant), from latin 'mercari' (to trade). il is a latin adjectival suffix meaning 'relating to'. ism is a suffix from greek '-ismos', denoting a distinctive system, theory, or practice.
Examples
the country's early economic policy was heavily influenced by mercantilism, focusing on a favorable balance of trade.
critics argue that modern protectionist measures are a form of neo-mercantilism.
the era of mercantilism was characterized by extensive government intervention in the economy.