Name: Tanya Goyal
Country: India

Year: 2021
Volume: Volume-12, Issue-2 (July-December)
Page Number: 32-37

ABSTRACT
Mercantilism argues for government regulation in the economy (especially in trade) to make the nation more powerful at the expense of other nations. This economic theory was in vogue in Europe from the 15th-18th century after which it was replaced by the theory of free trade. But despite continuous efforts by supranational organizations like WTO to liberalize trade, countries still show a pro-export and anti-import attitude. This has been labeled as neo-mercantilism by economists and it is expected to increase further as countries recover from the covid-19 pandemic.