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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."
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 ...
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.
Later on, the sudden ban on Spanish silver imports to China imposed by the Qing dynasty after defeating the Ming in 1644, [44] along with a long period of economic stagnation and recession due to famines and bad financial policies back in Spain, simultaneously combined with devastating losses sustained towards the end of the Thirty Years' War ...
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 ...
While initially a crop of the Indian subcontinent, the cultivation of sugar in the New World had significant effects on Spanish society. New World sugar cultivation added to the growing power of the Spanish and Portuguese economies while also increasing the popularity of slave labor (which had severe impacts on African, American, and European societies).
Both New Spain and Peru had dense indigenous populations at conquest as a source of labor and material wealth in the form of vast silver deposits, discovered and exploited beginning in the mid-1500s. New Spain developed strong regional divisions based on local climate, topography, distance from the capital and the Gulf Coast port of Veracruz ...