17th-Century Spain: Economic Crisis and Cultural Golden Age
- Economic and Social Developments
Since the beginning of the century until 1680, the economy was in a stage of depression. Two factors intervened:
- the demographic crisis: the three epidemics of plague, the expulsion of the Moors (1609–1611), and lower birth rates.
- The economic stress caused by continuous war, which generated a public finance debt, continued bankruptcies, and monetary changes.
Trade also entered a recession. French competition in the Mediterranean and English and Dutch competition in the Atlantic, together with the depletion of the American mines, worsened the situation. The result of the commercial crisis was a decline in circulation.
The manifestations of this crisis included the decline in agricultural production, the decline in cattle, the crisis of the Spanish textile industry, and hoarding of foreign trade with America. From 1680 an economic recovery began.
In this context, arbitrators such as Fernández de Navarrete and Martínez de la Mata understood that the decline was the result of errors that could be remedied with good governance.
The crisis of the seventeenth century affected all social classes. The nobility increased in number, but the population decline led to a decline in seigneurial revenues, and the nobility was forced to borrow. There was also an increase in the number of religious persons.
The bourgeoisie invested its capital in land. The peasantry was the sector most affected, with growing indebtedness and the resurgence of banditry. The city was also affected by this situation, with a growing army of rogues and beggars.
- Cultural Splendor: The Golden Age
It is the climax of culture and art, between 1492 and 1681. Characterized by national exaltation and a popular character addressed to the masses, with a defense of tradition, conservative social values, and religion.
Prominent figures include:
- In theology: Suárez.
- In law: Francisco de Vitoria.
- In literature: Fray Luis de León, Garcilaso, Cervantes, Quevedo.
- In architecture: Juan Gómez de Mora.
- In sculpture: Montañés, Mena.
- In painting: Zurbarán, Velázquez.
This period is the Golden Age of Spanish culture.