11: The Roman Economy Before the Fall
The Fall of Rome Podcast
00:00
The Roman Empire: A Market Economy and a Market Economy
The Roman economy was a fundamentally agrarian one, but it was also a market economy. To paraphrase the economic historian Peter Teman, markets knit the individual pieces of the Roman world together closely enough that we can call it a marketEconomy. The empire allowed for regional specialization and therefore massive overall benefits from comparative advantage.
Transcript
Play full episode
