A Market Economy in the Early Roman Empire
Massachusetts Institute of Technology (MIT) - Department of Economics; National Bureau of Economic Research (NBER)
MIT Dept. of Economics Working Paper No. 01-08
I argue here that the economy of the early Roman Empire was primarily a market economy. The parts of this economy located far from each other were not tied together as tightly as markets often are today, but they still functioned as part of a comprehensive Mediterranean market. There are two reasons why this conclusion is important. First, it brings the description of the Roman economy as a whole into accord with the fragmentary evidence we have about individual market transactions. Second, this synthetic view provides a platform on which to investigate further questions about the origins and eventual demise of the Roman economy and about conditions for the formation and preservation of markets in general.
Number of Pages in PDF File: 33
Keywords: Early Roman Empire, Roman economy, Market economies
JEL Classification: N000working papers series
Date posted: February 21, 2001
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