Spanish+Price+Revolution+1503

Impact of Global expansion on European Culture

Price Revolution 1503 We can say that the Price Revolution began in 1503, which was when Spain started to ship vast amounts of silver and gold to Europe. At the same time Spain experienced steady population growth causing a high demand in food and goods. Because Spain could not recover its economy due to the lack of skilled workers as the Jews and the Muslims which had been expelled. Prices rose so fast that Spain could not keep up with the international market. The vast amounts of silver and gold had caused an inflation yet it is still arguable whether the steady population increase of the inflation had caused this price revolution. At first the Price revolution was only present in Spain, but later swept across Europe as Phillip II paid his debts and armies with Spanish silver. In the period of 1560 to 1600 prices in Europe then began to double and sometimes even quadruple. This fits the theme of the Impact of Global expansion on European culture because it was the excessive silver and gold mining of the Spanish colonies in the New World that played a huge role in the cause of the Price Revolution. Which is why there is a picture showing a map of Europe and the "New World", which was partly the cause of the Price Revolution linked to this theme of European Expansion. MLA:

McKay, John P. __History of Western society__. 7th ed. Boston: Houghton Mifflin, 2003.