jan 1, 1500 - Spain Goes Through Inflation
Description:
During the 1500s, Spain went through a period of inflation which weakened the empire. More people came into the empire, so merchants were able to praise their prices. Also, silver bullion flooded the market and lost its value. This period caused Spain to go through an economic decline. Spain expelled the Jews and Muslims, losing many artisans and people. Since taxes fell on lower people, they could not raise enough money to start their own businesses. This effected Spain, for they never developed a middle class.Added to timeline:
Date:
jan 1, 1500
Now
~ 526 years ago