Tag: Mediterranean

Articles

The size of the economy and the distribution of income in the Roman Empire

Different ways of estimating the Gross Domestic Product of the Roman Empire in the second century CE produce convergent results that point to total output and consumption equivalent to 50 million tons of wheat or close to 20 billion sesterces per year. It is estimated that elites (around 1.5 per cent of the imperial population) controlled approximately one-fifth of total income while middling households (perhaps 10 percent of the population) consumed another fifth. These findings shed new light on the scale of economic inequality and the distribution of demand in the Roman world.

Articles

A comparative perspective on the determinants of the scale and productivity of maritime trade in the Roman Mediterranean

I argue that imperial state formation was the single most important ultimate determinant of the scale, structure, and productivity of maritime commerce in the Roman period. Hegemony and subsequent direct rule created uniquely favorable conditions for maritime trade by cutting the costs of predation, transactions, and financing to levels that were lower than in any other period of pre-modern Mediterranean history.

Articles

Coin quality, coin quantity, and coin value in early China and the Roman world

How was the valuation of ancient coins related to their quality and quantity? How did ancient economies respond to coin debasement and to sharp increases in the money supply relative to the number of goods and transactions? I argue that the same answer – that the result was a devaluation of the coinage in real terms, most commonly leading to price increases – applies to two ostensibly quite different monetary systems, those of early China and the Roman Empire.

Articles

POMPEY’S POLITICS AND THE PRESENTATION OF HIS THEATRE-TEMPLE COMPLEX, 61–52 BCE

In spite of all this triumph Pompey also returned to Rome under unfavourable conditions. The majority of the senate did not respect the great general. He came from a recent noble family of late distinction, he did not rise through the ranks of the cursus honorum in the venerable Roman tradition, and he was not familiar with the protocol of the Roman senate…