King Louis XIV was known for his extravagance. The palace at Versailles is Exhibit One revealing his belief that cost was no object.
Jean-Baptiste Colbert began his political rise at a very early age and became Councillor of State before turning 30, just six years into Louis' 72-year reign.
Through a series of political appointments, including Controller-General of Finances, Colbert instituted a wide range of tax reform and accountability measures which eventually got the state's finances in order.
His stringent and direct attacks on a number of royals and wealthy commoners earned him a large number of enemies. By the time of Colbert's death in 1683, even the king had grown tired of being held accountable by this meddlesome accountant.
And so it was that, by the end of Louis XIV's reign 32 years later, France's finances were back in disarray, eventually setting the stage for the French Revolution.
The moral of the story? Spendthrift behavior is unsustainable at any level; personal, royal or national.
Oh and, it's no accident that "accountant" and "accountable" are such similar words!
Best regards, Peter