Question

In: Economics

Why was the change in dynasties in Spain, from Hapsburg to Bourbon, so important?

  1. Why was the change in dynasties in Spain, from Hapsburg to Bourbon, so important?

Solutions

Expert Solution

  • Hapsburg dynasty ruled the Spain dominated politically and militarily in Europe but the power gradually declined due to several state bankruptcies during the reign of Philip II.
  • Rising inflation and financial draining of economy due to wars added to the crises led to the bankruptcy again in 1596.
  • Again in 1607 during the reign of Philip III, who had no interest in government. In the late 16th century Spanish Succession wiped out the leaderless Hapsburg dynasty while Bourbon dynasty came into the power.
  • Bourbon dynasty introduce many economic and political legislations aimed at modernization of Spain.
  • They tried to make efficient administration and promote development.
  • They made the government more centralized.
  • They ended many privileges given to the Spaniards. They unified the Spain and led to the emergence of modern Spain we see today.
  • Although they were eliminated in the 19th century, however, they impacted the theory and practice of the future governments which were very important.
  • Arequipa Revolt in 1780 occurred during their rule due to implementation on new taxes.
  • Spain's first constitution was adopted by Ferdinand VII (House of Bourbon), the constitution was the most liberal of its times.
  • It granted voting rights to almost to all of the male population.
  • The constitution reduced the power of church and nobility while abolishing Inquisition

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