Accumulation of Gold and Silver

Definition

This is the process where countries increase their wealth by gathering large amounts of gold and silver. During colonial times, this was often achieved through conquests, trade, or mining in colonies.

Analogy

Accumulating gold and silver is like playing a real-life version of Minecraft. In Minecraft, you mine resources (like gold) to build your wealth - just as countries did during colonial times!

Related terms

Mercantilism: An economic theory that advocates for accumulation of wealth (especially gold & silver) through strict government regulation of economy & trade.

Colonialism: The policy or practice of acquiring full or partial political control over another country, occupying it with settlers, and exploiting it economically.

Bullionism: A belief in the high value of precious metals such as gold & silver; bullionists advocate for accumulating these metals to increase national wealth.