bourgeoisie — middle class in society

→ developed the market outside the territories of the landlords & church

• group of artisans & traders

→ promoted natural rights of humans

• a person possesses the right to live in freedom & dignity

mercantilism — belief that the wealth of a nation could only be achieved through government controls & regulations of trade / commerce / economic activities

→ bullionism — exchange of precious metals

adam smith — coined the term “mercantile system“

→ jean-baptiste colbert — french finance minister who favoured the mercantile system

• dominated western europe