R2417th

Jean Baptiste Colbert- Colbert was Louis XIV’s Minister of Finances and was most famous for being the “father” of mercantilism. Although he DID NOT invent mercantilism, he applied it to France ’s weakened economy to boost it. Mercantilism is a collection of governmental policies to regulate economic activities, by and for the state’s benefit. He wanted France to be self sufficient, by selling abroad and buying nothing back. His main achievement however was the creation of a powerful merchant marine to transport French goods all over Europe. He also hoped to annex Canada part of the French empire because of its vast agricultural land. His policies were very successful in manufacturing, and industry expanded manifold. McKay, John P. __History of Western Society 7th Edition__. Boston: Houghton Mifflin, 2003.