Have You Heard Of a Former Economic System Called Mercantilism?

Question

Marianne found a very interesting link... I was especially interested in this sentence; do you understand what this means?

"Mercantilism functioned as the economic counterpart of the older version of political power: divine right of kings and absolute monarchy."

Mercantilism apparently came into Europe after the Middle Ages, and it sounds kinda like protectionism? Here is the link Marianne posted:

https://en.wikipedia.org/wiki/Mercantilism ; and I learned from this link also, apparently mercantilism is associated with imperialism of the European countries!

Answer 1

Isn't Mercantilism one of the reasons the USA rebelled against England? Boston tea party!! You had to pay undue (in the colonies perspective) taxes on trading with other countries.

Comments

Korvo! Of course, now that you point it out, that is very true! Thank you...

Answer 2

Yes, I heard of it in high school history, and the Wiki article that Marianne found gives a good summary of it.

Answer 3

Yes, I read the article also and have heard about it in my history work. Hmmm.

Answer 4

I can only add some historical (generalised) links about how, in the beginnings of the "early modern period" in Europe, absolute monarchy could take control, using mercantilism:

https://en.wikipedia.org/wiki/Absolute_monarchy_in_France

https://en.wikipedia.org/wiki/Louis_XIII_of_France

https://en.wikipedia.org/wiki/Cardinal_Richelieu - (yes the "Red Eminence")

https://en.wikipedia.org/wiki/Louis_XIV_of_France

https://en.wikipedia.org/wiki/Jean-Baptiste_Colbert

https://en.wikipedia.org/wiki/Bourgeoisie

About trade and economies:

https://en.wikipedia.org/wiki/Economic_history_of_the_world

https://en.wikipedia.org/wiki/Trade

https://en.wikipedia.org/wiki/International_trade

https://en.wikipedia.org/wiki/Timeline_of_international_trade

About absolute power systems in history:

https://en.wikipedia.org/wiki/Despotism

https://en.wikipedia.org/wiki/Absolute_monarchy

https://en.wikipedia.org/wiki/Divine_right_of_kings

https://en.wikipedia.org/wiki/Theocracy

Even today, mercantilism, absolute monarchies, and other, similar systems are still alive - though mainly "veiled" by more or less sophisticated terms ...

Comments

Marianne it is educational to find all these pieces of the economic puzzles of history...I had known of Leclerc as the éminence grise, but not until now Cardinal Richelieu as the 'red eminence'...!

I especially enjoyed, and learned much about mercantilism, from the link on Jean Baptiste Colbert (1619-1683). He really helped France, even while King Louis XIV was draining everything off to fight wars. Also I learned about manorialism, which is another economic system but different from feudalism, somehow (learning lots, but not really keeping all this straight!)

Answer 5

Yes. You should look some French historical books about Louis XVII.

Comments

Hello, Kninjanin, there might have been a typing error (Louis XVII died at age 10 in prison); you might have been referring to Louis XVI or Louis XVIII (after Napoleon I):

https://en.wikipedia.org/wiki/Louis_XVII_of_France

But here's a rough chronology (the list would be too long) about what occurred long after Louis XIII, Louis XIV, etc. - till Louis XVI:

Louis XVI (the king who supported the North American Colonists):

https://en.wikipedia.org/wiki/Louis_XVI_of_France

https://en.wikipedia.org/wiki/French_Revolution

https://en.wikipedia.org/wiki/Napoleon

https://en.wikipedia.org/wiki/Louis_XVIII_of_France

If you are interested, I'll give you some more links.