chuck wrote:
Actually, the comments about Roman trade deficit has something to say about this too. It is said that throughout the history of the Empire, silver was worth much less relative to gold in Rome than in China. This difference in relative value of the 2 metals on 2 ends of a long indirect trade route powered an even stronger flow of silver out of Rome than gold, and drove up the value of silver in Rome. Because this trade was through middlemen, it continued unabated throughout the Roman and Byzantine periods almost heedless of upheaval in the middle east and disruptions in direct contact.
Ehm, unfortunately what little we do know about Roman fiscal matters is that the dramatic drop in metal content was mainly due to a huge increase in the number of coins issued. There is no hard evidence for a "flow of silver" out of the Roman empire.
Generally one should exert extreme care about speculating wildly about Roman economy, both because we're burdened with modern thinking about economy and because we simply have far too little data about pretty much anything.
Look, at the beginning of the second century Trajan begins to send out correctores in municipal cities, apparently to help them to get their finances back in order. All we can see is that there was apparently a problem, but we have no idea what the problem was, how they tried to solve it (What did correctores do? What exactly were their powers? Were they simply a means to reign directly into the provinces, or to bypass the level of the provincial administration?) and whether it actually worked. As a matter of fact, we know next to nothing about the economies of municipal cities, which is a pity, because these were at the core of the economic potential of the Roman empire.
The main thrust was Rome depleted its store of precious metals over the course of the empire because value of Roman export was much lower than value of Roman import, and Rome was never able to modify the condition of the trade to redress this imbalance. So Rome went from precious metal rich in 1AD to precious metal poor by 400 AD.
Ok, once again - speaking of "Roman import" and "Roman export" is extremely modernistic.
Roman economy did not work that way, indeed in a way there is no "Roman economy" as a whole; for a merchant in Palmyra trading with, say, Babylon is probably cheaper in terms of taxes than with Paris.
As far as can currently be seen the main reason for the sharp decline of the third century is directly connected with the dramatic increase in military expenditure. If you look at the way the
donativa and the soldiers' salaries went through the ceiling from Septimius Severus onwards you'll begin to get the picture.
Jorit