Spanish conquerors willingly and easily destroyed native empires and civilizations, as shown by Francisco Pizarro who crushed the Incas of Peru in 1532 and Hernan Cortes who demolished the Aztec civilization in Mexico, both for the sake of wealth. Moreover, the importation of precious metals from the New World drastically impacted the economy of Europe. The flood of wealth caused the increase of consumer costs by 500 percent, fed the economic system of capitalism, and helped lay the foundation of the modern banking system. However, these advancements in European society were made at the price of native devastation in the hands of the Spanish. The implementation of the system encomienda, in which a Spanish colonist was allowed to demand
Spanish conquerors willingly and easily destroyed native empires and civilizations, as shown by Francisco Pizarro who crushed the Incas of Peru in 1532 and Hernan Cortes who demolished the Aztec civilization in Mexico, both for the sake of wealth. Moreover, the importation of precious metals from the New World drastically impacted the economy of Europe. The flood of wealth caused the increase of consumer costs by 500 percent, fed the economic system of capitalism, and helped lay the foundation of the modern banking system. However, these advancements in European society were made at the price of native devastation in the hands of the Spanish. The implementation of the system encomienda, in which a Spanish colonist was allowed to demand