Spain's Economic Miracle and the Decline of Francoism (1957–1975)
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Economic Growth and Social Transformation (1957-1960s)
The technocrats prevailed, and members of Opus Dei assumed significant posts in Franco's 1957 cabinet. Measures proposed by these technocrats were incorporated into the Stabilization Plan of 1959, which aimed to:
- Curb inflation.
- Reduce government economic controls.
- Bring Spanish economic policies and procedures in line with European standards.
The plan laid the basis for Spain's remarkable economic transformation in the 1960s. During that decade, Spain's industrial production and standard of living increased dramatically. The effects were profound. Foreign investment entered the country, attracted by low production costs and the absence of trade union freedom. The stabilizing measures established... Continue reading "Spain's Economic Miracle and the Decline of Francoism (1957–1975)" »