S6 Ep17: American precious metals and the rise of the West
VoxTalks Economics
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The Effects of the American Precious Metals on Spain's Economy
Spain's economy was very vulnerable to maritime disaster events that disrupted this metal flow. Big maritime disasters shaved a cumulative 67% of Spanish GDP growth. By contrast, the second-stage receivers like England, Holland, France and Italy were much more insulated from such transport losses.
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