Mercantilism: The Economics of Absolutism

http://www.tomrichey.net Mercantilism is an economic philosophy that emphasizes competition between nations for wealth, which was measured in terms of who had the most gold and silver. A mercantilist economy stresses national self-sufficiency and the preservation of national wealth through a favorable balance of trade. Mercantilism is a type of command economy, strictly regulating the production, distribution, and consumption of goods and services. Although I specifically focus on Jean-Baptiste Colbert's implementation of a mercantilist economy in absolutist France under Louis XIV (especially useful for AP Euro), the material in this lecture is also useful for US History students who want additional context for understanding the conflicts between the British colonies and Parliament regarding trade and taxation. If you like this lecture, check out my AP European History Playlist: https://www.youtube.com/playlist?list=PLfzs_X6OQBOxudw-bxvxBuTWvh6bwaVhQ