Why did many investors prefer land and moneylending to investing in industry during Jean-Baptiste Colbert’s reforms?

During the reforms of Jean-Baptiste Colbert, many cautious and thrifty investors preferred traditional outlets for their capital—specifically land, annuities, and moneylending—over investing in industry.

This preference was driven by several factors:

• Economic Climate: The period was characterized by generally falling prices worldwide, which discouraged risk-taking in new industrial ventures.1
• Regulatory Environment: Colbert’s strict system of control and regulation was often resented by traders and contractors, who sought to preserve their own freedom of action rather than operate under state-imposed standards and oversight.1
• Preference for Stability: Compared to the precarious nature of state-supported trading companies and new manufactures, land and established financial instruments offered a more secure and familiar means of preserving wealth.1

While Colbert successfully expanded trade and established new industries, these traditional investment habits remained a significant obstacle to his broader economic goals.1