Economic condition of spain during absolutism period
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Spain had a vast global empire under Philip II but experienced economic decline during the period of absolutism. The empire drained Spain's resources while lack of a middle class, deprivation of citizens, low value of commerce and industry, overgrazing of lands, and inflation led to economic retrogression for the formerly mighty Spanish empire.
Economic condition of spain during absolutism period
- 1. ECONOMIC CONDITION OF SPAIN DURING ABSOLUTISM PERIOD
- 2. When Philip II died, Spain had the mightiest and riches empire - with territories in both hemispheres and in five continents: Europe, Africa,N. & S. America and Asia
- 4. Terrible drain on Spain’s resources
- 5. Lack of enterprising middle class
- 6. Deprivation of productive citizens
- 7. Low value on commerce and industry
- 8. Low value on commerce and industry
- 10. inflation
- 11. Sources world history by zaide& zaide.2006 world history by perry.1988