The Early Roman Empire: The State and the Economy

Abstract

This chapter explores whether the higher level of economic activity during the first two centuries of the Principate in comparison with the preceding and following periods, and the possible modest growth then, were, at least in part, the result of the existence of a single political entity embracing the Mediterranean, or were achieved despite it. In the first two centuries of the Principate, taxation enhanced market exchanges and promoted growth. The emperor set the rules of the game at the level of the central and provincial administration, but his actions extended in various ways to the level of the individual urban communities. The creation of a single monetary area may have contributed most to the reduction in transaction costs: a centrally produced coinage circulated almost everywhere. In order to account for massive output of the Roman mint it is necessary to assume structural imbalance between tax and public expenditure.

Cite this

Elio Lo Cascio (2007). The Early Roman Empire: The State and the Economy. Cambridge University Press eBooks. https://doi.org/10.1017/chol9780521780537.024

@article{lo2007the,
  title  = {The Early Roman Empire: The State and the Economy},
  author = {Cascio, Elio Lo},
  year   = {2007},
  journal = {Cambridge University Press eBooks},
  doi    = {10.1017/chol9780521780537.024}
}

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