Real Dictionary

mercantilism in American English
the doctrine that arose in Europe with the decline of feudalism, that the economic interests of the nation could be strengthened by the government by protection of home industries, as through tariffs, by increased foreign trade, as through monopolies, and
noun: mercantile practices or spirit; commercialism

mercantilism in British English
noun: a theory prevalent in Europe during the 17th and 18th centuries asserting that the wealth of a nation depends on its possession of precious metals and therefore that the government of a nation must maximize the foreign trade surplus, and foster national c