Romans were not great economists - Deepstash
Romans were not great economists

Romans were not great economists

The history of Rome is a slow transition from a limited government to tyranny. But military centralisation worked better than economic one:

  • During Cesar's time wheat prices were fixed and wheat was offered to people in Rome for free. 1/3 of Roman citizens were supported by the government. 
  • All emperors (with few exception) debased the currency, paying for public works with inflation
  • Diocletian was the worst as he tried to fix the prices of all goods. It led to famine & suffering. 

Rome's economy was constantly fighting inflation, but their tools (issuing currency & fixing prices) led them to ruin.

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vladimir

Life-long learner. Passionate about leadership, entrepreneurship, philosophy, Buddhism & SF. Founder @deepstash.

There are so many parallels between what the Romans did to their economy and what's happening now. Same same.

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