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The Financial Decline of a Great Power
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The Financial Decline of a Great Power: War, Influence, and Money in Louis XIV's France

Guy Rowlands

Abstract

The financial humbling of a great power in any age demands explanation. In the War of the Spanish Succession (1701–14) Louis XIV's France had to fight way beyond its borders and the costs of war rose to unprecedented heights. With royal income falling as economic activity slowed down, the widening gap between revenue and expenditure led the government into a series of desperate expedients. Ever-larger quantities of credit, often obtained through fairly novel and poorly-understood financial instruments, were combined with ill-advised monetary manipulations. Moreover, through poor ministerial ma ... More

Keywords: France, financial decline, financial Instruments, entrepreneurs, bankers, war, military-industrial complex

Bibliographic Information

Print publication date: 2012 Print ISBN-13: 9780199585076
Published to Oxford Scholarship Online: January 2013 DOI:10.1093/acprof:oso/9780199585076.001.0001

Authors

Affiliations are at time of print publication.

Guy Rowlands, author
Director of the Centre for French History and Culture, University of St Andrews

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