The Roman Empire was the epicenter of the world market during their reign over much of the civilized world. So why did the Romans fall? Much of their failure is due to there failing economy. The Romans made many mistakes but at the same time did make corrections but in the end their efforts were for not.
The beginning of the Roman Empire is marked by the appointment of its first emperor Augustus Caesar. Augustus was truly a classical school economist (if there had been a classical school at that time. Augustus first began a currency system moving the people from a barter economy to a more manageable money economy. The Printing of the first coins was done in copper and to give the currency it linked to a commodity. A head of cattle was used as the commodity to give value to the currency and thus the coin resembled the fact. The coin was in the shape of a cowhide complete with four legs protruding from the corners. The Mediteranian had been devastated by years of war and all neighboring economies were weak and combined with... [continues]
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