Inflation and the Fall of the Roman Empire by Joseph R. Peden Part 2

http://mises.org/story/3663
http://guardofliberty.blogspot.com/2009/01/rome-america-twins-bound-by-fate.html

An interesting Mises article I came across today that I thought I'd share with you all. History seems to be repeating itself doesn't it?

I've also written a similar article on my blog early in the year, check it out.

This is a good look at what happens when extortion rackets monopolize money.

Category:

News & Politics

Tags:

• Fall
• of
• the
• Roman
• Empire
• Mises
• Institute
• Inflation
• Hyperinflation
• Monetizing
• Debt
• Fiat
• Currency
• Money
• Monetary
• Policy
• Gold
• Silver
• Bronze
• Standard
• Emperors
• Augustus
• Constantine
• Caracalla
• Diocletian
• Aureus
• Solidus
• Denarius
• Nummus
• Leviathan
• Austrian
• Economics
• State
• Extortion
• Racket
• Taxation
• Free
• Markets

[spinnernet1]

It's amazing how an empire can fall from WITHIN.

[freedominsomalia]

state law sucks

[spark300c]

the beginnings of feudalism and decline of ancient capitalism. interesting

[dmfc593]

@thschear Don't mind that we piss away 2 billion a week on our military. I was also in the military for 8 years, the amount of money we spend on military is retarded. You are false in your assertion

[thschear]

Today we have replaced paying the military with paying welfare (bread and circuses). You can't steal money from the productive and give it to the unproductive for very long cause eventually the productive will just give up.  Today, social security, nationalized health care, paying off political/financial support from the elite for politicians with access to the government treasury are the mother of all taxes. The defense budget goes down in real dollars.

[TheTokkin]

The evidence for inflation is mostly derived from certain regions in the east, but these are few and may have been influenced by local policies or imperial demands or something other non-monetary.

[TheTokkin]

There's actually very little evidence that inflation was critically damaging to the Roman economy. In ancient economies, the problem usually was not inflation, but rather deflation and the scarcity of coinage: this was a problem in the Roman Empire as well: and provinces such as Egypt continued to absorb the extra coin for a long time.

[Worldslargestipod]

Interesting, Joseph R Peden was one of the authors of "Sources of the Western Tradition." - One of the text books i use in college X-D

[TheBlitz1]

lesson - corruption = failure

[sdgsdf45]

No war and the least civil servants -> Good economic

[superdog797]

@spinnernet1 FROM WITHIN111!!!!!!