"Mercantil" is a term derived from the Spanish word "mercantilismo," which refers to a historical economic theory and system that emerged during the 16th and 18th centuries. It is also known as mercantilism in English. This doctrine was prevalent among European colonial powers such as Spain, Portugal, France, and England, and it had a significant impact on their economic policies and practices.
Mercantilism is characterized by its focus on the accumulation of wealth and the establishment of a favorable balance of trade for a country. It emphasizes the central role of the state in regulating economic activities, particularly international trade. The primary objective is to secure a surplus in exports over imports, leading to an inflow of precious metals, such as gold and silver, into the country.
Under a mercantilist system, governments implemented various measures to promote exports and restrict imports. These policies often involved the use of tariffs, quotas, subsidies, and monopolies. The principles of mercantilism aimed to protect domestic industries, build self-sufficiency, and enhance national power.
Despite being criticized and eventually replaced by other economic theories like classical liberalism, mercantilism contributed to the rise of colonial empires and global trade networks during the Age of Exploration. Additionally, it influenced the development of economic thought and policy-making, laying the foundation for contemporary concepts such as protectionism and economic nationalism.
Overall, "mercantil" refers to the theories, practices, and policies associated with mercantilism, a historical economic system seeking to maximize a nation's wealth and power through regulated international trade.
