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Spanish America remained an agricultural economy. From the point of view of Spain and the world economy, silver ruled the commercial system. Women were under male authority; upper-class women were confined to household occupations, but many from the lower class participated in the economy. The large colonies of Portugal and Spain provided an important place in the expanding world economy.

Tiles of Portugal by mistca

Latin America became part of the world economy as a dependent region. A first conquest period between 1492 and 1570 established the main lines of administration and economy.They were joined to an emerging Atlantic economy. The industry, dependent on a supply of food and other materials for workers, was a stimulus for the general economy.