The Decline of Spain - Essay Example

OF DECLINE OF SPAIN SUBMITTED TO OF FACULTY BY FULL MONTH, YEAR Decline of Spain According to readingsthe seventeenth century was an era of incessant social, economic, military and political decline of Spain. During this time, none of Philip III (r. 1598-1621) or Philip IV (r. 1621-65) could prove themselves to be capable of managing different matters like Philip II.1 Liability came to aristocratic advisers. Undoubtedly, Gaspar de Guzman and count-duke of Olivares, put all their efforts but remained unsuccessful in building a centralized government that his renowned and modern, Cardinal Richelieu, had established within France.

The control of Spain and its realm in Europe started to decline after this time. This has been revealed that a major cause behind this decline was, during 1588 to 1598, Philips foreign ventures and his overseas policies that affected Spains economy in a very bad manner.2 Bankruptcy led Philip’s overseas ventures to an end, along with the Armada, that caused a major impact on Spains morale. Trade industry was developed between Europe and America in era of 1500 and 1600 century. Supplies made from America were the major reason of problems for Spain.

As per experts of the field, the trade within Spain was not suitably regulated. They built poor relations between other nations due to a poor leadership; all these made grounds for loss of wealth for Spain. Moreover, the leadership within Spain also lacked essential economic qualities. On the other hand, France was continuously supplied by the resources from the US due to its positive and well- regulated trade policies. France economy was greatly improved due to its finance minister, Colbert, who pursued mercantilist policies and followed the trade policies implemented by the king.

Colbert was the main person behind considerably improved economy of France; he encouraged farming, mining and other necessary industries, and also established highly money- making businesses.__________________________1 Richard. A. Stradling, Europe and the Decline of Spain (Unwin Hymen, 2003)2 Henry Kamen, The Decline of Spain: A Historical Myth?: A Rejoinder (Past and Present 91, May 1981)More can be learnt through further reading and research on this topic. The economic decline of Spain became worse due to reduced farming and commerce after starting trade with American colonies.

3 Spain could not maintain good relations with England due to which Queen Elizabeth permitted her army to invade Spanish treasure Ships. Then bad leadership also resulted in more loss of wealth as a result of costly wars which resulted in high inflation that became worse due to American gold and silver. France established its trade with overseas colonies. On the other hand, Spain could not take full advantage out of its colonies present in America. Main reasons behind this fact are poorly regulated trade, bad leadership, and an underprivileged economy.

4 Undoubtedly, its rulers made every effort to promote Spanish arts and sciences during the seventeenth century. Moreover, they tried to develop cities, promoted Spanish art and literature, also took part in few wars without considering financial circumstances of the state. But the declining economy of Spain became worse due to significant decline in agriculture, excessive foreign money owing and neglected trade and commerce.In the beginning of 20th century, for the country that was already on the verge of decline, it was not enough for to make little efforts to recover the economy, as the country had already lost Cuba and the Philippines during 1898.

Spain is still inconsistent in its economic power, and also became the victim of an immense terrorist attack on 11 March 2004 when some religious extremists exploded a series of bombs on trains in the busy train station Atocha in central Madrid. __________________________3 Richard L. Kagan, Prescotts Paradigm: American Historical Scholarship and the Decline of Spain (American Historical Review 101: 2, April 1996)4 Randolph Starn, Meaning-Levels in the Theme of Historical Decline (History and Theory 14:1, February, 1975)BIBLIOGRAPHYKagan, R. L. Prescotts Paradigm: American Historical Scholarship and the Decline of Spain, American Historical Review 101: 2 (April 1996): pp. 423-446.Kamen, H.

The Decline of Spain: A Historical Myth?: A Rejoinder, Past and Present 91 (May 1981): pp. 181-185.Starn, R. Meaning-Levels in the Theme of Historical Decline, History and Theory 14: 1 (February 1975): pp. 1-31.Stradling, R. A. Europe and the Decline of Spain, Unwin Hyman, 2003, 120-150.