France's Economy
Colbertism: The French Tradition of State Industry
How Jean-Baptiste Colbert, Louis XIV's finance minister, built state-supported industries and protected them with tariffs, starting a long French tradition.
Jean-Baptiste Colbert served as Louis XIV’s finance minister from 1665 to 1683.
Mercantilism
Colbert followed mercantilism: a nation should export more than it imports and accumulate gold.
Policies
- Royal manufactures: state-supported workshops for tapestries (Gobelins), glass and mirrors (later Saint-Gobain, founded 1665).
- Tariffs to protect French goods.
- Quality standards for products.
- Roads and canals like the Canal du Midi.
- A strong navy and trading companies.
Colbertism
The term Colbertism now describes French state-led industrial policy: government guiding and supporting strategic industries.
Modern echoes
- State shareholdings in firms like Renault, Airbus and EDF.
- Support for “national champions”.
Debate
Critics argue state direction can stifle competition; supporters credit it for industries like aerospace and high-speed rail.
Saint-Gobain, founded under Colbert in 1665 to make mirrors for the Palace of Versailles, remains a major global company today.
It traces back to Colbert in the 1660s.
- Colbert was Louis XIV's finance minister.
- He followed mercantilism with state workshops and tariffs.
- Saint-Gobain dates from 1665.
- Colbertism describes French state-led industrial policy.
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