Bourbon Economic Reforms: Industry and Trade in 18th Century Spain
Classified in Geography
Written on in
English with a size of 3.13 KB
Bourbon Economic Reforms in Spain
The reformist spirit of the Bourbons extended to the economy and contributed to overcoming the economic crisis that had affected Spain during the seventeenth century. However, these reforms were not able to definitively resolve the serious shortcomings and deficiencies that plagued the Spanish economy.
Industry Under the Bourbon Dynasty
The industrial sector presented three outstanding features:
- Dominance of Artisanal Production: Production remained largely artisanal and little advanced. It was supported by urban guilds and rural crafts. The guilds, however, were a significant problem for development. Home work allowed cheaper production, but not necessarily better quality. Consequently, Spanish industry's ability