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7/21/2025, 11:23:25 PM
>>510997520
>>510996472
I do recommend anyone interested to go read on Tom Holland. If you want the primary sources, there is actually a lot before things really go to hell after Rome is sacked the second time.
>ineffective monetary policy
Now, Rome had a major inflationary problem. Especially during succession civil wars, they'd just print so much coin that the content in gold of those coins began ever decreasing.
There were only 2 attempts to remedy the inflation problem:
- Emperor Domitian around the year 90 fixed inflation through a rigorous austerity program, which led to him being labelled a tyrant and a monster by the deep state. He was actually succesful, and his fiscal / monetary program actually led to a string of very good emperors known as the four good emperors period.
- Emperor Diocletian around the year 284. After domitian reforms and the four good emperors, Commodus failed to name a successor, which led to the bloodiest civil war in roman history and the victory of Severus, who preferred to use inflation to finance his government (which became a trend). This weakened the romans so much that their empire almost fell in the 3rd Century Crisis before a miraculous reunification under Aurelian and his successors (including Diocletian).
Diocletian knew the problem was not having gold in the currency, so he created a new currency that was 100% gold. But he hated inflation and thought the greedy merchants were behind it, so he turned Rome into the closest thing to a socialist nation. Price controls, people were locked in their professions, central planning, you name it. Diocletian's reforms turned romans into serfs, turned the emperor into Domus (how slaves are supposed to call their master), and in the end, expanded inequality and made people ressentful of the empire.
>>510996472
I do recommend anyone interested to go read on Tom Holland. If you want the primary sources, there is actually a lot before things really go to hell after Rome is sacked the second time.
>ineffective monetary policy
Now, Rome had a major inflationary problem. Especially during succession civil wars, they'd just print so much coin that the content in gold of those coins began ever decreasing.
There were only 2 attempts to remedy the inflation problem:
- Emperor Domitian around the year 90 fixed inflation through a rigorous austerity program, which led to him being labelled a tyrant and a monster by the deep state. He was actually succesful, and his fiscal / monetary program actually led to a string of very good emperors known as the four good emperors period.
- Emperor Diocletian around the year 284. After domitian reforms and the four good emperors, Commodus failed to name a successor, which led to the bloodiest civil war in roman history and the victory of Severus, who preferred to use inflation to finance his government (which became a trend). This weakened the romans so much that their empire almost fell in the 3rd Century Crisis before a miraculous reunification under Aurelian and his successors (including Diocletian).
Diocletian knew the problem was not having gold in the currency, so he created a new currency that was 100% gold. But he hated inflation and thought the greedy merchants were behind it, so he turned Rome into the closest thing to a socialist nation. Price controls, people were locked in their professions, central planning, you name it. Diocletian's reforms turned romans into serfs, turned the emperor into Domus (how slaves are supposed to call their master), and in the end, expanded inequality and made people ressentful of the empire.
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