The Park Place Economist


In 1531 Spanish explorers embarked from Peru and landed in what is now modem day Ecuador. Peru was "the richest of the New World prizes won for the Spanish crown" (Ecuador, 1991), but the Spanish wanted to find more colonies to plunder. Drunk with tales ofgreat riches in Ecuador, King Charles I of Spain decided to send an explorer by the name of Francisco Pizzaro to investigate. Pizzaro and his men killed thousands of Inca tribesmen; they also looted and. pillaged everything that they could find. By the early 154Os, the whole ofwhat is now Ecuador was under Spanish control.