Colbertism is an economic theory and practice named after the French finance minister Jean-Baptiste Colbert, who served under King Louis XIV in the 17th century. It emphasizes state intervention in the economy to promote national wealth and power. Colbert believed that a strong economy could be achieved through protectionist policies, regulation of industries, and support for domestic manufacturing. The core principles of Colbertism include mercantilism, where the government seeks to maximize exports and minimize imports, and the establishment of monopolies to control key industries. This approach aimed to strengthen the French economy and enhance its competitiveness in Europe.