Absolutism

Definition

Absolutism is a political doctrine and form of government where unlimited, complete power is held by a centralized sovereign individual, without checks or balances from any other part of the government or society. In the context of international political economy, it refers to periods where monarchs or rulers had absolute control over their state's economy, trade, and colonial enterprises.

Related terms

Sovereignty:

The authority of a state to govern itself or another state.

Mercantilism:

An economic policy that combines wealth accumulation for the state through trade balance control, closely associated with absolutist states.

Colonialism:

The practice of acquiring full or partial political control over another country, occupying it with settlers, and exploiting it economically which was often pursued by absolutist regimes