Connor Gafney
Period 6
7 November 2014
Mooney/ History
Period 6
7 November 2014
Mooney/ History
Inflation
One reason for the fall of the Rome Empire from many historians was inflation in the prices and taxes. As Romans stopped conquering new lands, the flow of gold into the roman economy decreased . There was less gold use in coins. As the amount of gold used in coins decreased the coins because less valued. Many people stopped using coins began to barter. Slaves had to be paid in food and clothing. Taxes were poised in fruits and vegetables.
"Prices in this period rose in most parts of the empire by nearly 1,000 percent. The only people who were getting paid in gold were the barbarian troops hired by the emperors. The barbarians were so barbarous that they would only accept gold in payment for their services."(mises.org)
"The roman economy suffered from inflation (an increase in prices) beginning after the reign of Marcus Aurelius. Once the Romans stopped conquering new lands, the flow of gold into the Roman economy decreased. Yet much gold was being spent by the romans to pay for luxury items. This meant that there was less gold to use in coins. As the amount of gold used in coins decreased, the coins became less valuable. To make up for this loss in value, merchants raised the prices on the goods they sold. Many people stopped using coins and began to barter to get what they needed. Eventually, salaries had to be paid in food and clothing, and taxes were collected in fruits and vegetables."(rome.info)
"Prices in this period rose in most parts of the empire by nearly 1,000 percent. The only people who were getting paid in gold were the barbarian troops hired by the emperors. The barbarians were so barbarous that they would only accept gold in payment for their services."(mises.org)
"The roman economy suffered from inflation (an increase in prices) beginning after the reign of Marcus Aurelius. Once the Romans stopped conquering new lands, the flow of gold into the Roman economy decreased. Yet much gold was being spent by the romans to pay for luxury items. This meant that there was less gold to use in coins. As the amount of gold used in coins decreased, the coins became less valuable. To make up for this loss in value, merchants raised the prices on the goods they sold. Many people stopped using coins and began to barter to get what they needed. Eventually, salaries had to be paid in food and clothing, and taxes were collected in fruits and vegetables."(rome.info)
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This page was overall very good. There was a small typo when you said "As the amount of gold used n coins decreased the coins because less valued." but other than that it was a nicely written paragraph.
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