Final answer:
Wolf's text suggests that the political and diplomatic approach of the time was shaped by the Peace of Westphalia, which transitioned politics from dynastic concerns to state interest based on military, commercial, and financial considerations.
Step-by-step explanation:
According to John B. Wolf's analysis in The Emergence of the Great Powers, 1685-1715, the approach toward politics and diplomacy during the period was most influenced by the political and religious settlement at the Peace of Westphalia.
After the Thirty Years' War, the Peace of Westphalia, in 1648, shifted the focus of politics from dynastic and religious concerns to those of state interest, primarily based on military, commercial, and financial considerations. This peace settlement provided a new framework for international relations and set the stage for the modern system of sovereign states.
The rise of great standing armies and the necessary financial burdens they placed upon the states meant that governments now had a vested interest in increasing the economic wealth of their potential taxpayers to fund the military endeavors. This economic rationale aligned with the growing influence of the professional and commercial classes in shaping government policies.
Hence, the transformation described by Wolf is largely rooted in the developments post the Peace of Westphalia, which redefined the balance of power in Europe and encouraged state behavior that prioritized geopolitical state interests over dynastic politics.