#19 – Logan Chipkin: Understanding Economics
Arjun Khemani Podcast
00:00
The Fall of Rome
The Roman government used coin clipping to create new money out of thin air. Emperor Nero would collect coins from the population and then he would basically what's called clipping them. This coin clipping in turn caused prices to rise, which is the inevitable consequence of inflation. And many emperors in order to combat the rising prices would implement price controls. But that just means there's less entrepreneurial activity in creating those goods and services they applied.
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