Inflation Isn't New #Shorts

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Inflation Isn't New #Shorts

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1,211 Views • Apr 7, 2023 • Click to toggle off description

Inflation isn't new. The Roman economy, despite being based on a trimetallic monetary system (one that used bronze, silver and gold coins) still experienced runaway inflation throughout the late 2nd and especially the 3rd centuries. The Roman government's largest expenditure was on the military. That cost only rose as soldiers demanded gifts of cash from new emperors, and emperors demanded more soldiers to fight their wars. To meet the rising cost of maintaining the army, various emperors debased the coinage, substituting base metals for silver and gold. This solved the immediate problem of putting cash into pockets, but caused the long term problem of inflation.

#Economy #Inflation #RomanHistory #AncientHistory #RomanEmpire #AncientEconomy #GoldStandard #RomanCoins

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YouTube Comments - 2 Comments

@RyanDaMannn
1 year ago

Meanwhile oil companies are recording record breaking profits. Fossil fuel inflation is exacerbated MASSIVELY.

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YouTube Comments - 2 Comments

@RyanDaMannn1 year ago

@RyanDaMannn
1 year ago