Economic Decline

In the 1600s there were economic problems and the successors of Philip the second were less able rulers than he so Spain slowly declined.

Why?

  • Because there were many treasures from the Americas Spanish people neglected farming and commerce.

 

 

 

  • The government taxed the middle class a lot, which were supporters of the royal power.
  • Gold and silver in Spain had a higher price than anywhere else in Europe.
  • Costly overseas wars drained Spanish wealth.

 

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