Fiscal Crisis and the Decline of Spain (Castile)
支持汉密尔顿关于新大陆财富导致卡斯蒂利亚衰落的观点，但强调采矿利润而非进口量支撑帝国，利润枯竭后霸权被迫让与北方新兴势力。
Earl J. Hamilton's multiple theses on the price revolution, the decline of Spain, and the birth of capitalism have all placed American silver (and gold) at the forefront. This essay supports Hamilton's emphasis on the impact of New World treasure on the decline of Castile, but from a different angle. Mining profits rather than the quantity of imports supported the empire. When the profits dwindled, as was inevitable, international superiority was begrudgingly surrendered to the emerging powers of the north.