Welcome to PAATH History….
Due to the crisis in the slave-mode of production the government resorted to short-term solutions like debasement coinage to meet its growing financial commitments. In the long run such solutions undermined the entire economy. The monetary crisis was just one of the factors which contributed to the decline of trade in the later Roman Empire. When landowners permanently settled in the countryside and in a situation where trade had declined, estates tended to become even more self-sufficient. It was one type of decentralization, and also a reason behind the crisis of the empire. To know more see the video.
#EconomicCrisisInTheRomanEmpire #RomanEconomy #DeclineofRomanEmpire
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00:34 Introduction
00:52 Monetary Crisis
02:48 Problem in long distance trade
04:17 Inland transport
06:53 Nature of market
08:15 Conclusion
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Reference: (1) Farooqui Amar (2002), Early Social Formations, Delhi: Manak Publications Pvt. Ltd.
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Script, Commentary & Music by Gautam Mukhopadhyay
Professional Profile Link: http://vidyamandira.ac.in/pdfs/facultycv/GM_HIST.pdf
Video and soundtrack are subject to copyright of PAATH History
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