Actually, if you look up the meaning/definition of the words capitalism and mercantilism, and then look again at how the word mercantilism is used in the article, you will find that mercantilism is the correct word.
Capitalism means private ownership. It does not imply stockpiling money through protectionism, and certainly does not imply state intervention in global trade.
Actually, if you look up the meaning/definition of the words capitalism and mercantilism, and then look again at how the word mercantilism is used in the article, you will find that mercantilism is the correct word.
Capitalism means private ownership. It does not imply stockpiling money through protectionism, and certainly does not imply state intervention in global trade.