
By Sara Reardon - Science Mag
Between 1520 and 1650, Spain’ economy suffered crippling and unrelenting inflation in the so-called Price Revolution. Most historians have attributed that inflation, in part, to the importation, starting in 1550, of silver from the Americas, which supposedly put much more currency into circulation in Spain. But in a report out this week, a team of researchers argues that for more than a century the Spanish did not use this imported silver to make coins, suggesting...