18th Century European Political and Economic Concepts

Key Thinkers and Concepts of the 17th and 18th Centuries

Bossuet: Defender of Divine Right Monarchy

A thinker who defended the **Divine Origin of Monarchy**, asserting that no law or institution could stand above the king.

Jean-Baptiste Colbert: Architect of Mercantilism

Finance Minister under Louis XIV, known for implementing the economic system of **Mercantilism**.

Mercantilism: Colbert's Economic System

An economic system established by Colbert, based on three core ideas:

• A state's wealth was measured by the amount of gold and silver it possessed. Therefore, it was necessary to accumulate these metals through trade.
• To capture external trade (exports) and prevent wealth from leaving the country, the state implemented **Protectionism**.
• The state imposed tariffs on foreign products and intervened in other aspects of the economy.

Foundations of Political Liberalism

The theoretical basis of the English Parliamentary Monarchy, articulated by **John Locke**. Its fundamental tenets are recognized as:

• Freedom
• Equality
• Property

The Enlightenment (Illustration)

The intellectual movement that developed across Europe throughout the eighteenth century. Proponents believed it was possible to analyze society using **Reason**, arguing that reason would lead to progress. They defended the concept of natural rights and claimed that **Tolerance** should be the basis of human coexistence.

Enlightened Despotism

A political system born from the application of Enlightenment ideas by absolute monarchs.

Physiocracy: Quesnay's Economic Theory

An economic system supported by the Physiocrats, whose theory was announced by **François Quesnay**.

Montesquieu and the Separation of Powers

A key ideologue of revolutionary liberalism. He developed the concept of the **Separation of Powers** in his seminal work, The Spirit of the Laws.

Rousseau: National Sovereignty

The concept of **National Sovereignty** was articulated by him in his work, The Social Contract.

Adam Smith: Economic Liberalism and Free Trade

Economic Liberalism was enunciated by Adam Smith in his book, The Wealth of Nations. He developed the concept of **Free Trade** (or Laissez-faire), arguing that external exchanges should occur without protective tariffs or border taxes on products.

The Treaty of Utrecht (1714)

Signed in 1714 to end the War of the Spanish Succession. Spain renounced its possessions in Flanders and Italy, which were ceded to Austria, confirming Philip V as the King of Spain.

Philip V of Spain (Bourbon Dynasty)

King of Spain in the eighteenth century, belonging to the Bourbon dynasty. He issued the **Decrees of the Nueva Planta**.

Ferdinand VI

The successor to Philip V, who maintained the reforms initiated by his predecessor.