Why did the monarchs of europe favor mercantilism???

Question

i know mercantilism is great and all, but specifically, why the monarchs of europe during adam smith and colberts time favor it so much

Answer 1

One reason is that all of Europe saw how Spain managed to completely bankrupt itself despite having exclusive access to vast gold and silver reserves in America - the money came into Spain on treasure ships, and went right out because Spain had run its middle class either out of the country (Jews and Moors) or into bankruptcy. Instead of industrializing and evolving as France and Britain did, Spain stagnated and went from a first class power to practically the backwater of Europe.

Additionally, mercantilism allowed monarchs (or parliaments) to directly profit from and direct the monopolies they were creating. For example, not only can the King ensure that his good drinking buddy is the only widget manufacturer supplier in the land (and its colonies), but also ensure that he gets a cut of the profits directly.