Inflation and the Roman Empire

As revenue failed to meet expenditures during the third century. The imperial reaction was to simply produce more money so that they could pay off all their debts. This led to spiraling prices, savings being wiped tand a reversion back to primitive barter and payments in kind. With the imperial mines running dry and no new sources of silver and gold anywhere to be found, the emperors were forced to debase the coinage to keep up with the increased rate of production. They may not have understood inflation, but they certainly understood the dangerous ramifications of making their coins intrinsically less valuable.