Lecture on New France and Mercantilism #5

Flashcards covering key concepts from the lecture on New France and mercantilism.

Jean Baptiste Colbert

Minister of Finance in France who managed New France from afar, implementing mercantilism.

Mercantilism

Economic theory that suggests the world's wealth is fixed and one country's gain is another's loss; promotes self-sufficiency and wealth extraction from colonies.

Fixed Wealth

The idea that there is a limited amount of wealth in the world, leading to competitive economic practices.

Self-Sufficiency

The goal of mercantilism where a country produces all necessary goods to lessen dependence on rivals.

Colony

A territory governed by a foreign power, intended to extract resources for the benefit of the mother country.

Triangular Trade Pattern

Trade system proposed by Jean Talan involving routes between France, New France, and Caribbean colonies.

Seigneurial System

Land ownership model in New France where favored individuals, seigneurs, received large estates and had obligations to settle and manage land.

Habitants

Settlers in New France who worked the land and had specific obligations under the seigneurial system.

Corvée Labor

Compulsory labor required from habitants for the seigneur and the government.

Agricultural Colony

Colony primarily focused on farming to provide sustenance, particularly for trade with other colonies.