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Politics : Politics for Pros- moderated -- Ignore unavailable to you. Want to Upgrade?

To: Tobias Ekman who wrote (224938)	10/19/2007 1:18:45 PM
From: D. Long	Respond to of 793991

That's where inflation comes in, like Bill said. Spain's economy didn't grow fast enough to keep pace with inflation, like the northern European commercial powers did. The more gold Spain took from the Americas, the poorer it got. By the beginning of the 19th Century, Spain couldn't compete with England, France, and the Dutch. Those countries could afford to build more ships and play offense against the Spanish while outcompeting them economically. Spain's colonies rebelled and by the end of the 19th century even young America was pushing them around.