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11: The Roman Economy Before the Fall

The Fall of Rome Podcast

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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.

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