Western Civilization I / Unit 17 WC1 1611 short lesson, about 20 seconds
Why Spain Went Bankrupt
Captions available
The idea
Despite American bullion, Spain's wars in the Netherlands, against England and later in Germany left it bankrupt: the anchor's first power about fifteen fifty, second-tier by seventeen hundred, tied to agriculture and bullion while the Atlantic seaboard rose.
In practice
An overseas empire kept to the nineteenth century, power lost by seventeen hundred.
Where people slip
Bullion did not equal wealth. Unit 16's mercantilism explains why.
Your place on the trail
Every lesson rests on earlier ones and opens later ones. Tap any to jump.
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