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11 March, 06:20

What effect did the belief in an abundance of gold in the Americas have on Spain?

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  1. 11 March, 06:59
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    As you stated, Spain's obsession with gold led to a lack of investment in production, which allowed Britain and other European nations to surpass them. The Price Revolution caused inflation, which meant that in England large landholders were losing profits from their lands to inflation.
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