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Cypherpunkd Episode 029: “Inflation and The Fall of the Roman Empire” – Money, Gold, Silver, Taxes, Inflation, Debasement and Tyranny – Lecture by Professor Joseph Peden

Posted May 14th, 2011 in Cypherpunkd by admin

This is a lecture by Prof. Joseph Peden called “Inflation and the Fall of the Roman Empire” given at the Seminar on Money and Government in Houston, Texas on October 27, 1984. The original audio recording is available courtesy of the Mises Institute. I have commissioned this transcript in the hope that you may find it as interesting and educational as I did. Kudos to Joshua Griffith for bringing this talk to my attention.

Mises Transcript

  1. Juno Moneta says:

    Peden neglects to mention a major contributor to Rome’s economic demise-its massive balance of trade deficit with the Far East. It seems their trade partners saw little in Rome’s products they desired and so demanded to be paid only in gold (bullion if they were smart). Just two hundred years after Julius Caesar shocked the Roman elite by wearing royal purple silk outfits every time he was in public a massive amount of Rome’s treasury had been substantially drained.

    The death knell sounded with the closing of its last gold mines in what are now Wales and Spain in the 5th century. Soon after they were unable to meet payroll of the armies and collapse soon followed.