In this work, John Lynch has taken account of the research of the last decade to revise and expand his book "Spain Under the Habsburgs", Vol 1, and has incorporated it into the series, "A History of Spain". The book retains its previous framework and identity, and provides an account of the economy, politics and society of Spain, from the national foundations laid by Ferdinand and Isabella to the imperial policy of Charles V and the world power of Philip II. The new research of the last ten to 15 years has increased knowledge of the people, the resources and the institutions of early modern Spain. The result has been to change perceptions of Spain during this period sufficiently to make historians reflect anew on familiar subjects. The author offers here a reappraisal of many of these subjects, including the Catholic monarchs, and a number of institutions, including the Inquisition. Chapter IV, on Spain during the price revolution and Spain and its empire, has been re-written and expanded; Chapter V includes a fuller account of Spain's interaction with its American empire. The author also reinterprets the political, social and economic history of Spain, and the absolutism of Philip II. He examines the trend towards regionalism and the devolution of power to local elites, as well as the economic power of the aristocracy and the worsening conditions of the rural poor. Professor Lynch revises his previous treatment of bureaucratic devolution, royal finance and the role of the courts, and establishes the character of royal bureaucracy during the period. He concludes with a new bibliography of recent works in the field.