Legacy 220px|thumb|left|La Granja Royal Palace Historians have generally been unkind to the King. Lynch says Philip V advanced the government only marginally over that of his predecessors and was more of a liability than Charles II. When a conflict came up between the interests of Spain and France, he usually favored France. However, Philip did make some reforms in government, and strengthened the central authorities relative to the provinces. Merit became more important, although most senior positions still went to the landed aristocracy. Below the elite level, the inefficiency and corruption that had existed under Charles II was as widespread as ever. The reforms started by Philip V culminated in much more important reforms of Charles III. The economy, on the whole, improved over the previous half-century, with greater productivity, and fewer famines and epidemics. The government promoted industry, agriculture and shipbuilding. After the destruction of the main silver fleet at Vigo in 1702, the navy was rebuilt. Nevertheless, the new fleet was still too small to support the vast worldwide empire.
Legacy 220px|thumb|left|La Granja Royal Palace Historians have generally been unkind to the King. Lynch says Philip V advanced the government only marginally over that of his predecessors and was more of a liability than Charles II. When a conflict came up between the interests of Spain and France, he usually favored France. However, Philip did make some reforms in government, and strengthened the central authorities relative to the provinces. Merit became more important although most senior posi,tions still went to the landed aristocracy. Below the elite level, the inefficiency and corruption that had existed under Charles II was as widespread as ever. The reforms started by Philip V culminated in much more important reforms of Charles III. The economy, on the whole, improved over the previous half-century, with greater productivity, and fewer famines and epidemics. The government promoted industry, agriculture and shipbuilding. After the destruction of the main silver fleet at Vigo in 1702, the navy was rebuilt. Nevertheless, the new fleet was still too small to support the vast worldwide empire.