Random wikipedia quote of the day

…Radical financial reforms by Turgot and Malesherbes angered the nobles and were blocked by the parlements who insisted that the King did not have the legal right to levy new taxes. So Turgot was dismissed in 1776 and Malesherbes resigned in 1776 to be replaced by Jacques Necker. Necker supported the American Revolution, and proceeded with a policy of taking out large international loans instead of raising taxes. When this policy failed miserably, Louis dismissed him, and replaced him in 1783 with Charles Alexandre de Calonne, who increased public spending to ‘buy’ the country’s way out of debt. Again this failed, so Louis convoked the Assembly of Notables in 1787 to discuss a revolutionary new fiscal reform proposed by Calonne. When the nobles were told the extent of the debt, they were shocked into rejecting the plan. This negative turn of events signaled to Louis that he had lost the ability to rule as an absolute monarch, and he fell into depression.

As power drifted from him, there were increasingly loud calls for him to convoke the Estates-General, and in May 1789 he did so, summoning it for the first time since 1614 in a last-ditch attempt to get new monetary reforms approved. This convocation was one of the events that transformed the general economic and political malaise of the country into the French Revolution, which began in June 1789…

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