What is mercantalis and neomercantalim?

Answer 1

Mercantilism is an economic theory prevalent from the 16th to the 18th century, advocating that a nation's power is best served by increasing exports and accumulating precious metals, primarily gold and silver. Neomercantilism, a modern adaptation of these principles, emphasizes government intervention in the economy to promote national interests, protect domestic industries, and achieve a favorable balance of trade. Both ideologies prioritize state involvement in economic affairs but neomercantilism reflects contemporary economic practices and global trade dynamics.