What effect did the wealth that Spain gain from its overseas expectations have on Europe?

1. Inflation:

Increased amounts of gold & silver flowing into Europe from Spanish overseas expeditions led to inflation. Increased money supply led to higher prices for goods & services across the continent.

2. Power Shifts:

The influx of wealth gave Spain considerable power and influence over European politics, economies, and geopolitical landscape.

3. Economic Rivalry:

Other European nations felt pressure to gain access to overseas colonies of their own, leading to increased rivalries and competition for colonies and resources.

4. Commercial Revolution:

The abundance of precious metals fueled the commercial Revolution, promoting the growth of trade, banking, and other capitalist practices.

5. Artistic and Cultural Patronage:

Spanish monarchs spent extensively on arts and literature, resulting in a flourishing of cultural output known as the "Spanish Golden Age."

6. Rise of the Netherlands:

The wealth of Spain indirectly fostered the rise of Dutch merchants, who began to challenge Spanish control over trade routes and seafaring dominance.

7. Mercantilism:

The idea of accumulating wealth and controlling trade to increase national power and economic strength gained prominence as a result of Spain's affluence.

8. European Exploration Age:

Spain success provided inspiration for other countries, leading to intensified overseas expeditions and colonization efforts by other European nations.