an economic theory that having money constitutes wealth, esp. amassing wealth by exporting goods
created by Adam Smith
Let us take, for example, the famous argument of Adam Smith against what he called the mercantile theory.
Unfortunately the mercantile theory set up an opposition between the interests of a mother-country and her colonies.
Of course few persons could now be found to defend the ancient superstitions of the "mercantile theory."
Berkeley had already, in the Querist, attacked the mercantile theory of the nature of national wealth and the Economics.