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The Silver Curse. How discovering America impoverished Europe
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- Nombre de pages156
- FormatePub
- ISBN978-3-565-19773-6
- EAN9783565197736
- Date de parution26/01/2026
- Protection num.pas de protection
- Taille673 Ko
- Infos supplémentairesepub
- ÉditeurEmphaloz Publishing House
Résumé
"The Silver Curse - How discovering America impoverished Europe" investigates the "Price Revolution" of the 16th century. After Columbus, the Spanish Empire extracted massive amounts of silver and gold from the Americas. They thought this influx of treasure would make them rich forever. Instead, it destroyed them.
Economic historian Isabella Silvie explains the paradox: The sudden flood of precious metals meant there was too much money chasing too few goods.
Prices for food and clothing skyrocketed across Europe, crushing the poor. Spain, swimming in gold, stopped producing anything and imported everything, hollowing out its own economy. "The Silver Curse" is a historical parallel to the "Resource Curse" (Dutch Disease) today. It illustrates that wealth does not come from digging metal out of the ground, but from productivity. It shows how the richest empire in the world went bankrupt three times because it didn't understand inflation.
Prices for food and clothing skyrocketed across Europe, crushing the poor. Spain, swimming in gold, stopped producing anything and imported everything, hollowing out its own economy. "The Silver Curse" is a historical parallel to the "Resource Curse" (Dutch Disease) today. It illustrates that wealth does not come from digging metal out of the ground, but from productivity. It shows how the richest empire in the world went bankrupt three times because it didn't understand inflation.