Potosi is a city located in modern-day Bolivia. It became one of the richest silver mining centers during the Columbian Exchange period due to its vast silver deposits.
Related terms
Mining boom: A mining boom refers to a rapid increase in mining activity and production due to the discovery of valuable resources.
Colonial exploitation: Colonial exploitation refers to the unfair extraction and utilization of resources by colonial powers from their colonies.
Inflation: Inflation is an economic term describing an increase in prices over time, reducing purchasing power. The massive influx of silver from Potosi contributed to inflationary pressures globally.