mercantilism: the economics of absolutism
DESCRIPTION
Mercantilism was an economic system - popular in early modern Europe - that measured national wealth by the accumulation of precious metals through a favorable balance of trade. In order to accumulate bullion, architects of mercantilist economic systems focused on building self-sufficient economies that limited the need for imports. One of the most famous mercantilists was Jean-Baptiste Colbert, Louis XIV's Minister of Finances.
