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A Market Economy in the Early Roman Empire

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  • Peter Temin

    (MIT (Visiting Nuffield College, Oxford))

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    Abstract

    I argue that the economy of the early Roman Empire was primarily a market economy. The parts of this economy located far from each other were not tied together as tightly as markets often are today, but they still functioned as part of a comprehensive Mediterranean market. This conclusion is important because it brings the description of the Roman economy as a whole into accord with the fragmentary evidence we have about individual market transactions. In addition, this synthetic view provides a platform on which to investigate further questions about the origins and eventual demise of the Roman economy and about conditions for the formation and preservation of markets in general.

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    File URL: http://www.economics.ox.ac.uk/materials/papers/2275/39temin.PDF
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    Bibliographic Info

    Paper provided by Economics Group, Nuffield College, University of Oxford in its series Oxford University Economic and Social History Series with number _039.

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    Length: 40 pages
    Date of creation: 01 Mar 2001
    Date of revision:
    Handle: RePEc:nuf:esohwp:_039

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    Web page: http://www.nuff.ox.ac.uk/economics/

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    Cited by:
    1. John Hartwick, 2013. "Mining Gold for the Currency during the Pax Romana," Working Papers 1313, Queen's University, Department of Economics.
    2. Camilla Brautaset & Regina Grafe, 2006. "The Quiet Transport Revolution: Returns to scale, scope and network density in Norway's nineteenth-century sailing fleet," Oxford University Economic and Social History Series _062, Economics Group, Nuffield College, University of Oxford.
    3. Vinokurov, Evgeny, 2009. "EDB Eurasian Integration Yearbook 2009," MPRA Paper 20917, University Library of Munich, Germany.
    4. Jane Humphries & Tim Leunig, 2007. "Cities, Market Integration and Going to Sea: Stunting and the Standard of Living in Early Nineteenth-Century England and Wales," Economics Series Working Papers 2007-W66, University of Oxford, Department of Economics.
    5. Mohammad Niaz Asadullah, 2006. "Educational Disparity in East and West Pakistan, 1947-71: Was East Pakistan Discriminated Against?," Economics Series Working Papers 2006-W63, University of Oxford, Department of Economics.
    6. Ulrike Malmendier, 2009. "Law and Finance "at the Origin"," Journal of Economic Literature, American Economic Association, vol. 47(4), pages 1076-1108, December.
    7. Guillaume Daudin, 2008. "Domestic Trade and Market Size in Late Eighteenth-Century France," Economics Series Working Papers 69, University of Oxford, Department of Economics.
    8. Peter Temin, 2006. "The Economy of the Early Roman Empire," Journal of Economic Perspectives, American Economic Association, vol. 20(1), pages 133-151, Winter.

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