Economic Nationalism

• Though the phrase was not in use at the time, mercantilists believed that human society was what would today be called a "zero-sum game" -- that any gains made by one geopolitical actor must necessarily come at the expense of others. Political power was inextricably linked with economic power, and it was therefore in a nation's best interest to actively engage in the development of its domestic economy.
  
  

Protectionism

• Mercantilists believed in strict policies of protectionism that maximized the exports of a nation's surplus products while minimizing imports from other nations wherever possible. For example, a country might declare that all goods traded to or from one of its colonies must pass through the home country's ports on ships sailing under the home country's flag -- regardless of their origin or ultimate destination -- to give a competitive advantage to its domestic producers.
  
  

Keeping Production Local

• Adherents to mercantilism also believed that finished products had far more value than the raw materials that constituted their construction. Therefore, all raw materials found in a country should stay within that country so their value might be maximized, rather than selling them to foreign competitors who could then increase their value by making finished products and selling them for a profit.
  
  

Large, Efficient Population

• Having a large domestic population, mercantilists believed, was essential to maximizing a nation's economic position. More people within a nation's borders meant more workers, more production and a larger market for the sale of finished goods. A high population density meant efficient economies of scale from both the production and consumption perspectives. Nations thrived by promoting population growth through the creation of infrastructure and the provision of basic subsistence to every individual.