Global Economic Summit October 18-19, 2022 Stockholm, Sweden

Madrid, city, capital of Spain and of Madrid provincial (province). Spain’s arts and financial center, the city proper and province form a comunidad autónoma (autonomous community) in central Spain. Madrid’s status as the national capital reflects the centralizing policy of the 16th-century Spanish king Philip II and his successors. The choice of Madrid, however, was also the result of the city’s previous obscurity and neutrality: it was chosen because it lacked ties with an established nonroyal power rather than because of any strategic, geographic, or economic considerations. Indeed, Madrid is deficient in other characteristics that might qualify it for a leading role. It does not lie on a major river, as so many European cities do; the 16th–17th-century dramatist Lope de Vega, referring to a magnificent bridge over the distinctly unimposing waters of the Manzanares, suggested either selling the bridge or buying another river. Madrid does not possess mineral deposits or other natural wealth, nor was it ever a destination of pilgrimages, although its patron saint, San Isidro, enjoys the all-but-unique distinction of having been married to another saint. Even the city’s origins seem inappropriate for a national capital: its earliest historical role was as the site of a small Moorish fortress on a rocky outcrop—part of the northern defenses of what was then the far more important city of Toledo, located about 43 miles (70 km) south-southwest.