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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?

To: Moominoid who wrote (14949)	2/12/2002 11:55:16 AM
From: Ilaine	Read Replies (1) \| Respond to of 74559

Maybe so. The Spanish certainly did not use their gold and silver to industrialize, nor did they leverage it to modernize their communities. But when it flowed north to the Netherlands and Great Britain, the people living there had a completely different experience. I believe de Soto explains why although I don't remember - I got the book from the library. It may have been in a book about Spain and the New World I was reading about the same time. At any rate, the Spanish bought fancy armor and paintings and expensive furniture and waged war - - the Dutch and the English built ships and looms and workshops.