Economic crisis in the kingdom of Naples in the days of Philip II

A discussion of the poor economic situation in Naples during the 1550s, beginning shortly after Philip II ascended the throne, is presented. Philip II's attempts to build a system of public finance were hampered by the huge outflow of funds sent to religious bodies and by investors from Florence and elsewhere to their native lands. War with the Turks was an external budget constraint as well. Other factors included poor harvests, rising living costs and efforts to privatize publiic land. Philip's policies resulted in a scarcity of metallic money that affected foreign exchange. Overall economic difficulties contributed to the prevalance of brigandage and rebellion in the sixteenth century.