Bullionism is an economic theory that defines wealth by the amount of precious metals owned. Bullionism is an early and perhaps more primitive form of mercantilism. It was derived, during the 16th century, from the observation that the Kingdom of England, because of its large trade surplus, possessed large amounts of gold and silver—bullion—despite the fact that there was not any mining of precious metals in England.
Bullionism is an economic theory that defines wealth by the amount of precious metals owned. Bullionism is an early and perhaps more primitive form of mercantilism. It was derived, during the 16th century, from the observation that the Kingdom of England, because of its large trade surplus, possessed large amounts of gold and silver—bullion—despite the fact that there was not any mining of precious metals in England.
== History == Bullionism was born in what now is known as Spain. Following the Reconquista, the region fell victim to a deep economic slump. This prompted local scientists to look for ways to revive the region's economy. Some noted that England had accumulated vast reserves of gold and silver thanks to its trade surplus, and established a link between the possession of precious metals and the wealth of the country.
Discovered by embedding cosine similarity (sentence-transformers MiniLM, 384-dim).