The gold and sliver from America hurt the Spanish economy due to inflation. According to page 541 it says "In the long run,however, gold and sliver hurts Spain's economy. Inflation, or the increase in the supply of money, led to the loss of its value, and it cost people a great deal more a great deal molre to buy goods with devalued money. Additonally, monarchs and the wealthy spent their riches on luxuries, instead of buying Spain's industries." Perhaps Spain should have done something about this greed that the wealthy had. In Spain today there is still greed for money and goods.
