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Have You Heard Of a Former Economic System Called Mercantilism?

+4 votes
Aug 4, 2017 in Banking by Virginia (6,077 points)
edited Aug 4, 2017 by Virginia

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 powerdivine 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: ; and I learned from this link also, apparently mercantilism is associated with imperialism of the European countries!

5 Answers

Korvo Aug 5, 2017

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.

Virginia Korvo Aug 5, 2017

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

TheOtherTink Aug 4, 2017

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

Rooster Aug 4, 2017

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

Marianne Aug 5, 2017
Virginia Marianne Aug 5, 2017

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!)

Kninjanin Aug 5, 2017

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

Marianne Kninjanin Aug 9, 2017

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):

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):

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

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