Arbitristas, a Spanish word meaning "projectors." The name of a group of reformers in 17th century Spain. The arbitristas were concerned about the decline of the economy of Spain

Economy of Spain

The economy of Spain is the twelfth-largest economy in the world, based on nominal GDP comparisons, and the fifth-largest in Europe. It is regarded as the world's 20th most developed country....

 and proposed a number of measures to reverse it. From John H. Elliott

John Huxtable Elliott

Sir John Huxtable Elliott, FBA , who normally publishes as J.H. Elliott, is an eminent historian, Regius Professor Emeritus in the University of Oxford and Honorary Fellow of Oriel College, Oxford and Trinity College, Cambridge....

's Imperial Spain:

The arbitristas proposed that Government expenditure should be slashed, that the tax-system in Castile should be overhauled, and the other kingdoms of the Monarchy be called upon to contribute more to the royal exchequer; that immigrants should be encouraged to re-populate Castile; that fields should be irrigated, rivers be made navigable, and agriculture and industry be protected and fostered.

Some arbitristas argued that the large quantities of silver and gold arriving from the mines in Spain's American colonies was doing great damage to the Spanish economy.

The Spanish valido Count-Duke of Olivares was strongly influenced by the arbitristas.

People like the writer Francisco de Quevedo

Francisco de Quevedo

Francisco Gómez de Quevedo y Santibáñez Villegas was a Spanish nobleman, politician and writer of the Baroque era. Along with his lifelong rival, Luis de Góngora, Quevedo was one of the most prominent Spanish poets of the age. His style is characterized by what was called conceptismo...

dismissed the arbitristas with ridicule by satirising their more outlandish schemes. This attitude is still present in the colloquial meaning of the word.