“This article presents mercantilism, an often underestimated school of thought, its policy recommendations, main representatives and country-specific manifestations, which was not adequately appreciated even by Adam Smith. At the time of writing, ‘neoliberalism’ dominated politics, academia and public discourse. In the meantime, the tide has turned and a Janus-faced green mercantilism is coming to the fore, which can serve industrial interests (rent-seeking) but is also, albeit to a far too small extent, an expression of the necessary ecological transformation. Which aspect predominates depends on the political balance of power.” (H. Peukert)