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Carlos Álvarez-Nogal, Christophe Chamley - Philip II of Spain and the Power of Money, Inbunden

Inbunden, Engelska, 2026

Philip II of Spain and the Power of Money

Between Parliament and Bankers

Av Carlos Álvarez-Nogal, Christophe Chamley

Del i serien Cambridge Studies in Economic History - Second Series

1576 kr

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Beskrivning
This is a study of the financial system that sustained the sixteenth-century empire of Philip II of Spain. Detailing the links between royal revenue sources, trade fairs, credit market, long-term debt, and contracts with Genoese bankers, it reveals how Philip's financial and military strategy complemented each other. Central to the narrative is Philip's struggle with the Cortes, which, under Castile's implicit constitution, imposed limits on public debt, forcing repeated renegotiations as military expenses and debt escalated. In this first analytical study of Philip's financial policies, Carlos Álvarez-Nogal and Christophe Chamley draw on extensive archival research and secondary sources to show that Philip's main challenge was not the bankers but the Cortes. He used temporary payment suspensions and financial crises as tools to pressure the Cortes for additional taxation. The book highlights the interplay between debt, political power, and state formation in early modern Europe.
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Carlos Álvarez-Nogal is Professor of Economic History at Universidad Carlos III de Madrid and Visiting Professor at Stanford University, Caltech and Paris School of Economics. Christophe Chamley is Professor of Economics at Boston University, Emeritus Professor EHESS at the Paris School of Economics, holder of a Cátedra de Excelencia in 2014 at Universidad Carlos III de Madrid, fellow of the Econometric Society and author of Rational Herds: Economic Models of Social Learning (2004).

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'Through creative use of primary sources and deep insights from both political economy and financial economics, Álvarez-Nogal and Chamley provide a fresh view of Philip II's struggles with his parliament and the way the outcomes affected the development of Philip's Empire and financial markets in both Spain and elsewhere.' Timothy W. Guinnane, Philip Golden Bartlett Professor of Economic History, Emeritus, Yale University

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