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How do you think rome's unstable government affected the economy?

Updated: 4/28/2022

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No ruler corrupt economy

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Q: How do you think rome's unstable government affected the economy?

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What caused romes economy to weaken how did inflation affect rome?

The decline of the Roman economy started in what had been called the crisis of the 3rd century, during which: a) There were constant invasions across the frontiers of the empire which massively overstretched the army. b) There was a string of usurpations with as many as 35 usurper emperors and two part of the empire broke away for a short time. c) There was runaway inflation. Hyperinflation was caused by many years of debasement of the Roman coins. The silver and gold content of silver and gold coins had been continually decreased by many emperors to have more coins to finance their expenses and to increase the size and the pay of the army. This devalued the coins. The coins eventually came to have virtually no value. They had as little as only 5 % of precious metal. This led to inflation. The usurper emperors made this worse by issuing their own coins, which increased the supply of money. Inflation became runaway and went out of control. Its effects were: 1) A breakdown in trade. It became difficult to exchange goods with a worthless currency. 2) Agricultural production on the large landed estates became localised. These estates decreased their sales of crops to the cities and concentrated on production for local barter. 3) The urban economy collapsed. Manufacturing in cities shrunk because their goods, which were for long-distance trade, could not be traded. 4) Many people migrated from the cities to the countryside and the population of the cites shrunk. 5) The owners of the large estates employed the migrants from the cities as servile labour. These people lost their rights and became tied to their landlords. 6) Distresses peasants, who were leaseholders on the large estates, were leaving their land in search for better opportunities. They were often turned into servile labour in the large estates as well. 6) The tax revenue of the state decreased, while expenditure increased as the size of the army increased. The mentioned invasions also led to greater reliance on a much expanded cavalry, which was even more expensive. 7) Taxation was increased and was raised in the form of demanding goods, which did not help the economy. Emperor Diocletian resorted to confiscating goods. Taxation remained a big burden on the people for the rest of the history of the empire. Constantine I managed to bring inflation under control by scrapping the silver coins and amassing large quantities of gold to create a viable gold coinage. However, this benefitted only those who could afford god coins. The masses had to make do with copper token money (the follis) which had been created because the previous coins had collapsed. The follis was very vulnerable to inflation. The overall result of the crisis was a decline of the economy of the empire which became fragmented and localised. Trade did not regain its previous levels, the economy remained less based on money, and the widened gap between the rich and the poor who had to rely of the vulnerable follis became irreversible.

Related questions

Who started Romes first government?

Romulus

How does agriculture and slave trade have anything to do with ancient romes economy?

gurby dont no

What is Romes type of government?

Rome is the capital of Italy and Italy is a democracy.

What role did the plebeians take in the early roman government?

prediction how do you think italys geography and romes location would affect the spread of romes influence

How did the framers learn from romes types of government?

You need to clarify what you mean by framers.

What new kind of government arose during romes decline?

Christian religious

Why was government of ancient Rome divided into three parts?

Ancient Romes government was divided into three parts because of how stable they wanted it to be.

What had become widespread in romes government leading to the empires eventual decline?

do i look like i can answer? NOPE

What is the birth name of Charles Romes?

Charles Romes's birth name is Charles Michael Romes.

What is Romes forum?

It is the center of government and temples for Ancient Rome. Today it is open to visitors and still is an amazing place.

How did the Pax Romana strengthen Romes economy trade and currency?

It provided peace and security within which to develop agriculture, trade and upgrade living standards.

What government was the romes replaced by?

When Rome fell there were feudal societies that replaced government. Strong men with armies moved into areas and claimed lands for themselves for a 1,000 years.

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