The economic policies of Jean-Baptiste Colbert, Louis XIV's controller general of finances
A)were noted for their innovation and originality.
B)used new accounting practices to take the tax burden off the peasants.
C)were based on the economic theory of mercantilism.
D)gave Louis the large surplus in the treasury needed to carry out his wars.
E)can best be described as capitalist.

Question

Quizplus · Accepted Answer

Jean-Baptiste Colbert's economic policies were based on the economic theory of mercantilism, which emphasized government intervention in the economy to increase exports and accumulate gold and silver. Colbert implemented policies such as subsidies for industry, the creation of monopolies, and the promotion of overseas colonies to increase France's trade and wealth. His policies were not necessarily innovative or capitalist, but they did help Louis XIV accumulate a large surplus in the treasury to support his wars.

The Economic Policies of Jean-Baptiste Colbert, Louis XIV's Controller General