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staringclown

Inflation and the fall of the roman empire

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Interesting read. (Well I thought so) :)

Inflation and the fall of the roman empire

Monetary, fiscal, military, political, and economic issues are all very much intertwined. And they are all so intertwined because any state normally seeks to monopolize the supply of money within its own territory.

Monetary policy therefore always serves, even if it serves badly, the perceived needs of the rulers of the state. If it also happens to enhance the prosperity and progress of the masses of the people, that is a secondary benefit; but its first aim is to serve the needs of the rulers, not the ruled. This point is central, I believe, to an understanding of the course of monetary policy in the late Roman Empire...

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Armstrong often writes about Rome and its downfall as an example of how empires fall. The US is next ... after the Euro Club crumbles.

It's a longer cycle but it is still a cycle I guess. Empires don't last forever. There's a great debate as to whether the roman empire actually collapsed or evolved into the eastern roman empire and continued until the fall of Constantinople. (And beyond with the holy roman empire continuing until germany was united). It didn't of course in the anglosphere.

Regardless, I loved the bit about the barbarians being the liberators.

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