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The financial decline of a great power : war, influence, and money in Louis XIV's France /
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 widen...
| Clasificación: | Libro Electrónico |
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| Autor principal: | |
| Formato: | Electrónico eBook |
| Idioma: | Inglés |
| Publicado: |
Corby :
Oxford University Press,
2012.
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| Temas: | |
| Acceso en línea: | Texto completo |
| Sumario: | 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 management the system of earmarking revenues for spending descended into chaos. All this forced up the cost of loans, foreign exchange, and military logistics as government contractors and bankers built the mounting risks into the price of their contracts and sought to profit from the situation. |
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| Descripción Física: | 1 online resource |
| Bibliografía: | Includes bibliographical references and index. |
| ISBN: | 9780191636943 0191636940 6613951935 9786613951939 9781283639477 1283639475 9780191744600 0191744603 |