An economic theory or system practiced from the 16th to the 18th century in which a state's power depended on its wealth, hence the accumulation of precious metals, trade surpluses, and the establishment of colonies to accumulate resources.
An economic theory or system practiced from the 16th to the 18th century in which a state's power depended on its wealth, hence the accumulation of precious metals, trade surpluses, and the establishment of colonies to accumulate resources.