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Portugal IMPERIAL DECLINE
Portugal's empire in Asia made its monarchy the richest
in
Europe and made Lisbon the commercial capital of the
world. This
prosperity was more apparent than real, however, because
the
newfound wealth did not transform the social structure,
nor was
it used to lay the basis for further economic development.
The
country's industry was weakened because the profits from
Asian
monopolies were used to import manufactured goods. As the
empire
in Asia was a state-run enterprise, no middle class or
commercial
sector independent of the crown of any consequence emerged
as it
had in other parts of Europe. Moreover, the persecution of
the
Jews, who possessed vital technical skills, robbed the
country of
an important force for modernity and reinforced feudal
elements.
Adding to the drain on the economy was the large amount of
money
spent on sumptuous palaces and churches.
Because the wealth from the discoveries did not produce
a
middle class of competent, trained individuals to whom the
affairs of state gradually fell, leadership in Portugal
remained
in the hands of the king and the military aristocracy.
Moreover,
the imperial system had intensified the already
centralized
system of government, which meant that the quality of
national
policy was closely tied to the abilities of the top
leadership,
especially the king himself. Unfortunately, the House of
Avis did
not produce a king of great merit after Joćo II, and
Portugal
entered a long period of imperial decline.
Data as of January 1993
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