DrTorch
Proved mach and GTS to be liars
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An essay worth reading
http://mises.org/story/3663
Inflation and the Fall of the Roman Empire
Quote:The size of the army, I indicated already, had also increased. It had doubled from the time of Augustus to that of Diocletian. And the size of the civil service also increased. Now, all these events strained the fiscal resources of the state beyond its ability to sustain itself; and the ship of state was kept going, frequently by debasing, then by taxing, and then often simply by accusing people of treason and confiscating their estates.
Rome had basically a laissez-faire concept of state/economy relations. Except in emergencies, which were usually related to war, the Roman government generally followed a policy of free trade and minimal restriction on the economic activities of its population. But now under the pressure of this need to pay the troops and under the pressure of inflation, the liberty of the people began to be seriously eroded — and very rapidly.
Sound familiar?
(This post was last modified: 09-08-2009 03:45 PM by DrTorch.)
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09-08-2009 03:44 PM |
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JxGx78
1st String
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Location: Birmingham, AL
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RE: An essay worth reading
A great essay, read it a few weeks ago...well worth the time!
(This post was last modified: 09-09-2009 03:05 PM by JxGx78.)
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09-09-2009 03:05 PM |
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