Mercantilism Law and Legal Definition
Mercantilism is an economic theory that developed during the seventeenth century in post-feudal Europe. Pursuant to the theory, the prosperity of a nation depends upon its supply of capital. Also, money is wealth and accumulation of gold and silver is the key to prosperity, and one nation's gain is another's loss. The theory is based on national policies of accumulating bullion and a country regulates colonies to produce goods for that particular country's exclusive advantage.