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Mercantilism: The Economics of Absolutism

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Tom Richey
Tom Richey

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.

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