global economy

The place of capitalism in the global economy

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Unformatted text preview: said that the owners of the mines controlled the economy. Does anyone actually controls the economy? Does anyone actually control the Spanish empire? All trade is inherently two sided, so if you have silver or silk, but there is no demand you c=don’t control the economy as there is no economy. What is the role of the Americas? A place of extraction, microcosm of capitalism. There was some consumption of European goods in the New World, but much less than the export of silver. The place of capitalism in the global economy, regional or global? Did Europe in terms of economic developments change? Reliance of countries on each other, as they all didn’t like Spain but had to be a part of the Empire to benefit from the economic power of the Empire. Kamen argues that Spain depended on a lot of countries to reach it’s achievement, but the success of the Spanish empire depended on the reliance of the other countries on Spain as well. Why is Spain the only one allowed to be a point of reliance? The Iberian peninsula was poorly developed economically But, the other European countries were beginning to develop. Different regions have different roles, the most dynamic capitalist places not in the core regions (i.e. Lima, or Spain) but rather the Bajio or Potosi. The interaction with the global economy generates different regional development. Silver is the main economic development that drives the economy? Does silver explain everything? How was the empire financed? Less currency tha...
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