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In the words of the OECD's 1987-88 survey of the Spanish economy, "following a protracted period of sluggish growth with slow progress in winding down inflation during the late 1970s and the first half of the 1980s, the Spanish economy has entered a phase of vigorous expansion of output and employment accompanied by a marked slowdown of inflation."
For all these reasons, and more, Spain itself went into steep economic decline starting in the mid-1500s, becoming almost totally dependent on its vast empire in the Americas. Once the riches of its empire were lost in the 1820s and 1830s, Spain could not support itself economically, like France and the UK, and spiraled down into a deep poverty ...
The Spanish imperial economy's major global impact was silver mining. The mines in Peru and Mexico were in the hands of a few elite mining entrepreneurs with access to capital and a stomach for the risk that mining entailed. They operated under a system of royal licensing, since the crown held the rights to subsoil wealth.
Spain and the United States signs the Pact of Madrid. 1955 Spain joins the United Nations. 1959: Spanish miracle: A period of economic growth began. 1973: Spanish miracle: The period ended. 1975: History of Spain (1975–present) 6 November: The Green March forced Spain to hand over its last remaining colonial possession, Spanish Sahara, to ...
The Price Revolution, sometimes known as the Spanish Price Revolution, was a series of economic events that occurred between the second half of the 16th century and the first half of the 17th century, and most specifically linked to the high rate of inflation that occurred during this period across Western Europe. Prices rose on average roughly ...
The Spanish institutions of the Ancien Régime were the superstructure that, with some innovations, but above all through the adaptation and transformation of the political, social and economic institutions and practices pre-existing in the different Christian kingdoms of the Iberian Peninsula in the Late Middle Ages, presided over the historical period that broadly coincides with the Modern ...
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The Spanish achievement of the sixteenth century was essentially the work of Castile, but so also was the Spanish disaster of the seventeenth; and it was Ortega y Gasset who expressed the paradox most clearly when he wrote what may serve as an epitaph on the Spain of the House of Austria: ‘Castile has made Spain, and Castile has destroyed it.’