This is a new edition of a great masterpiece of Spanish political economy. Sancho de Moncada lived and wrote in Toledo and Madrid during the crucial early decades of the seventeenth century. He was the most important member of a large group of intellectuals who published lengthy tracts on the question of Spanish decline. But, as the editor points out, Moncada’s work both anticipated and refined many of the arguments of his contemporaries. Among other topics, Moncada dealt explicitly with the relationship between Spain and the Americas, and, in particular, the effects of treasure imports on the economy and society of Spain. Thus, the work serves as an important introduction to an understanding of Spanish thought on the colonial problem at an important historical juncture.

The scholarly introduction by the editor combines an appreciation of Moncada’s talents with an analysis of the intellectual, social, and political situation of Golden Age Spain. Moncada’s essay is reproduced in its original form, with extensive marginal citations to other contemporary works.