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By: David Hwang Period 4 Thur. 9/22

Compare and contrast the economic factors responsible for the decline of Spain with the economic factors responsible for the decline of the Dutch Republic by the end of the seventeenth century. By: David Hwang Period 4 Thur. 9/22. Spain.

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By: David Hwang Period 4 Thur. 9/22

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  1. Compare and contrast the economic factors responsible for the decline of Spain with the economic factors responsible for the decline of the Dutch Republic by the end of the seventeenth century. By: David Hwang Period 4 Thur. 9/22

  2. Spain • Spain developed an absolutist government due to their strong relations with the church • Religiously intolerant • Strongly Catholic

  3. Economic • Spain gained a large amount of its income due to slave labor in mines • Lack of middle class led to domination of the social-political structure by the aristocracy • Public opinion of making money was socially condemned • Large amounts of bullion cause severe inflation

  4. Reason For Failure • Severe inflation lacked impact on the aristocrats who continued their lavish lifestyles • Attempted war to get rid of debt • Expelled many of their economic supporters due to religious intolerance • Lacked a solid source of income • Lack of strong central government

  5. Dutch • Was experiencing a “golden age” due to the Peace of Westphalia allowing for development • Was a Confederation • Practiced religious toleration • Fishing and trading were prime exports

  6. Economic • Had a strong fiscal standpoint in trade • Attracted a great deal of foreign capital and investment • Had one of the first banks(bank of Amsterdam) • Dutch East India Company allowed Dutch prestige in commerce and trade

  7. Reasons for Failure • Involving itself in war with the English and French proved detrimental toward the Dutch economy • The war of Spanish Succession led to little gain for its great cost

  8. Compare and Contrast Spain Dutch Compare Both got economically powerful War contributed to downfall Economic downfall at economic high points Contrast Allowed Jews Fishing and trade was major source of income. • Compare • Both got economically powerful • War contributed to downfall • Economic downfall at economic high points. • Contrast • Inflation caused economic difficulty. • Aristocracy made it a bad social thing to getting money.

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