It is said in Debt, the first 5,000 years by David Graeber (chapter 4, note 2) that when the value of metal coins represented exactly their weight, the result was deflation. The author says that when ...
According to the Biblical account, Jesus was the son of a carpenter, Joseph of Nazareth (Matthew 13,55). Apparently carpenters were not among the wealthy. Be that as it may, how rich could a ...
How much of an impact did the Roman emperors' civil wars have on their decision to debase the coinage?
From Adrian Goldsworthy's How Rome Fell: "Civil war remained a common event, ...the economy collapsed, as successive emperors massively devalued the coinage to pay for their wars." Other sources say ...
In the era before banking was invented, where did wealthy Romans store their cash? The emperor probably could store it somewhere in the imperial palace thanks to the Praetorian guard, but what about ...
It has been stated by Arnold J. Toynbee and James Burke that: The economy of the Empire was a Raubwirtschaft or plunder economy based on looting existing resources rather than producing anything ...