bullionism

Definitions

An economic theory prevailing in Europe from the 15th to the 18th century that equated national wealth with the accumulation of precious metals like gold and silver.

A policy of restricting the outflow of gold and silver from a country to maintain a favorable balance of trade.

Examples

Bullionism was a dominant economic theory in the early modern period, emphasizing the accumulation of gold and silver as the primary measure of a nation's wealth.

Critics of bullionism argued that restricting the export of precious metals hindered international trade and economic growth.

Synonyms

mercantilism monetary nationalism precious metal accumulation gold standard focus

Antonyms

free trade laissez-faire economics fiat currency system globalization