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Did Spanish gold and silver from the Americas fuel inflation and economic growth in Europe?
Wiki User
∙ 15y ago
Shoot! I entered pretty much this very question on Google to look for an article on it. My wold view is "Spanish gold and silver ransacked from the Americas did cause prices to rise in Europe with no real growth". My understanding is that it ultimately ruined the Spanish economy. The reason is that gold is otherwise a useless metal that when America's share got dumped on Europe, it created a monetary shock that ruined gold's value as money temporarily. Temporarily, Spain got to do nothing productive for a living, sort of speak, while the rest of Europe got duped into serving Spain for free/stolen American gold. Gold is money only in its property of fairly keeping track of economic credits given that no one is able to counterfeit it or find it easily without escaping productive work. Anyways, I'm looking for the authoritive answer because I'm tired of people deifying gold as money -- the real wealth is in the capital which money is a representation of. Shoot! I entered pretty much this very question on Google to look for an article on it. My wold view is "Spanish gold and silver ransacked from the Americas did cause prices to rise in Europe with no real growth". My understanding is that it ultimately ruined the Spanish economy. The reason is that gold is otherwise a useless metal that when America's share got dumped on Europe, it created a monetary shock that ruined gold's value as money temporarily. Temporarily, Spain got to do nothing productive for a living, sort of speak, while the rest of Europe got duped into serving Spain for free/stolen American gold. Gold is money only in its property of fairly keeping track of economic credits given that no one is able to counterfeit it or find it easily without escaping productive work. Anyways, I'm looking for the authoritive answer because I'm tired of people deifying gold as money -- the real wealth is in the capital which money is a representation of.
Wiki User
∙ 15y ago
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What goods were brought from Europe to the Americas?
Throughout history, trade has been used to import materials from Europe to the Americas. For instance, sugar, wood, and coal was imported to the Americas.
What was the Columbian exchange was a transfer of people goods and ideas between?
the Old World and the New World Europe and the Americas
How did World War 1 impact Americas trade with Europe?
my mum
How did columbian exchange affect the Americas and Europe?
One result of this exchange was the transfer of germs and viruses that brought diseases from europe to asia
How did European expansion affect global trade networks in the 15th through 18th centuries?
Europeans established trade networks between Europe and the Americas.
Why did the colonists go to the Americas?
For religion and economic freedom from Europe
How are Native Americans and the the spanish europeans different from each other?
The native Americas are the native people from the Americas when the Spaniards, the Spanish people from Europe conquer America.
What does effect mercantilism could have had on Europe and the American colonies?
It caused inflation as well as people in the Americas making their own money, not the government's.
How would you compare the conquest of the Americas by the Spanish to the conquests of other rulers in Europe and Asia?
spanish conquest brought diseases
What impact did the exports of precious metals have on indigenous peoples of the Americas?
The export of precious metals from the Americas led to the exploitation and displacement of indigenous peoples as European powers sought to extract wealth from the region. This resulted in forced labor, violence, and the destruction of indigenous societies and cultures. Additionally, the influx of precious metals fueled inflation and economic disruption in Europe.
How many countries around the world that speak spanish?
There are 21 countries where Spanish is the official language. These countries are located in Europe, the Americas, Africa, and the Pacific.
What came from Europe to the Americas?
European foods obviously. This mainly includes Italian, British, French, and Spanish delicacies.
What are some positive consequences of the Spanish exploration?
Some positive consequences of the Spanish exploration include the exchange of goods and ideas between Europe and the Americas, which led to economic growth and cultural exchange. The exploration also resulted in the expansion of European knowledge about the world and the discovery of new lands and resources.
Consider the type of economic activity in Europe shown in this image. Which feature of European economic systems in the Americas supported this type of activity?
Monopolies in the colonies controlled the trade of raw materials sent to Europe to be turned into finished goods.
How did religious changes in Europe affect the European colonization of the Americas?
Many of the native American tribes who were already in the Americas were overthrown by the Europeans such as the aztects being overthrown by Spanish conquistadors.
How did the defeat of the spanish armada change the balance of the power in Europe?
The British saw that the spanish was claiming land for their country so the British defeated the Spanish armada and claimed rest of the americas
Why do Spanish people leave Puerto Rico to come to America?
Most for greater economic advantage and employment. And they're not Spanish. The Spanish are from Spain, which is in Europe.
