caa a22 4500 388052554 CHVBK 20180307125057.0 cr unu---uuuuu 161130e199803 xx s 000 0 eng 10.1017/S0212610900007072 doi S0212610900007072 pii (NATIONALLICENCE)cambridge-10.1017/S0212610900007072 Yun-Casalilla Bartolomé (University of Valladolid) The American Empire and the Spanish Economy: an Institutional and Regional Perspective [Elektronische Daten] [Bartolomé Yun-Casalilla] The Spanish Empire in America —so envied by other countries— has never been regarded by economic historians as an unmixed blessing. For Hamilton, the precious metals from the Americas caused a parallel rise in prices and wages, reducing industrial investment and thus aborting the development of capitalism. For Vilar, a critic of that view, the Empire, as <<the supreme phase of feudalism>>, led to a primitive accumulation of capital responsible for freezing structures inhibiting to capitalism. Wallerstein recognised that America was essential for the conversion of Spain into a semi-periphery of the world market1. To that can be added other less general but equally negative approaches concerning the effects of emigration or of American treasure, seen by many as contributing to an absolutism powerful enough to impose a foreign policy alien to the interests of the country and highly damaging to the Spanish economy, and to that of Castile in particular. Copyright © Instituto Figuerola de Historia y Ciencias Sociales, Universidad Carlos III de Madrid 1998 Revista de Historia Económica / Journal of Iberian and Latin American Economic History Cambridge University Press 16/1(1998-03), 123-156 0212-6109 16:1<123 1998 16 RHE https://doi.org/10.1017/S0212610900007072 text/html Onlinezugriff via DOI 1 research-article jats NATIONALLICENCE 856 40 https://doi.org/10.1017/S0212610900007072 text/html Onlinezugriff via DOI NATIONALLICENCE 100 1- Yun-Casalilla Bartolomé (University of Valladolid) NATIONALLICENCE 773 0- Revista de Historia Económica / Journal of Iberian and Latin American Economic History Cambridge University Press 16/1(1998-03), 123-156 0212-6109 16:1<123 1998 16 RHE CC0 http://creativecommons.org/publicdomain/zero/1.0 nationallicence BK010053 XK010053 XK010000 NATIONALLICENCE NATIONALLICENCE NL-cambridge