Meaning: The quote, "In the last quarter of the eighteenth century bourgeois Europe needed to emancipate itself from that combination of feudalism and commercial capitalism which we know as mercantilism," by C. James, sheds light on the economic and social transformation that occurred in Europe during the late 18th century. To fully understand the significance of this quote, it is essential to delve into the historical context and the concepts it encompasses.

The late 18th century was a period of significant change in Europe, often referred to as the Age of Enlightenment. This era was characterized by a shift in philosophical, cultural, and economic paradigms, marking a departure from traditional, feudalistic structures towards more modern and progressive ideologies. The quote specifically addresses the need for bourgeois Europe to break free from the constraints of mercantilism, a prevalent economic system that had long dominated European trade and commerce.

Mercantilism, which emerged in the 16th century, was based on the belief that a nation's wealth and power were contingent on its accumulation of precious metals, particularly gold and silver. This economic doctrine was characterized by state intervention in the economy, protectionist trade policies, and the establishment of colonial empires to secure valuable resources. However, by the late 18th century, the limitations and inefficiencies of mercantilism had become increasingly apparent, prompting calls for emancipation from its constraints.

The term "bourgeois Europe" in the quote refers to the rising middle class, comprised of merchants, artisans, and professionals, who sought to challenge the traditional social and economic hierarchy. This segment of society was instrumental in driving the transition towards a more liberal and capitalist economic system, advocating for free trade, individual liberty, and the dismantling of feudal privileges and restrictions.

The concept of emancipation in the quote encapsulates the desire for liberation from the feudal remnants and restrictive economic policies that characterized mercantilism. This liberation was essential for the burgeoning capitalist economy to flourish and for the middle class to assert its influence and autonomy in the economic sphere.

Moreover, the quote highlights the dual nature of the economic challenge faced by bourgeois Europe – the need to break away from both feudalism and commercial capitalism. Feudalism, with its hierarchical social structure and agrarian economy, hindered the mobility and economic prospects of the burgeoning middle class. On the other hand, mercantilism's emphasis on state control and protectionism stifled the potential for free enterprise and economic growth.

The culmination of these factors necessitated a transformative shift towards a more liberal and capitalist economic framework. This transition laid the groundwork for the eventual rise of industrial capitalism and the spread of market-based economies, which would come to define the subsequent centuries.

In conclusion, C. James' quote encapsulates the pivotal economic and social changes that characterized late 18th-century Europe. It underscores the imperative for bourgeois Europe to liberate itself from the constraints of mercantilism and establish a more liberal and capitalist economic system. This emancipation from feudalism and commercial capitalism laid the foundation for the ascendance of the middle class and the proliferation of market-based economies, marking a significant turning point in European history.