> If you want bigger numbers, you have to look at the Spanish crown or the
> Spanish aristocracy of the sixteenth and seventeenth century, at the London
> merchants of the eighteenth century, or at the southern planters of the
> nineteenth century.
>
Actually, Spain failed conspicuously to benefit economically from its empire during those two centuries. The plunder, mostly in the form of gold and silver, was pissed away in endless religious wars and building one armada after another (incidentally, the clear cutting of forest to build galleons caused an ecological disaster that endures to this day). The country was considerably poorer in 1700 than it had been back in 1500 -even the population decreased significantly. It failed to develop a manufacturing base -it was easier to use Inca gold to buy stuff from Dutch merchants.
The XVIII century was much better. Spain grew into its role as a secondary European power, was mostly peaceful, and proceeded to calmly exploit its American colonies.
> Brad DeLong
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