
IPFS News Link • History
Does Inflation Lead To Civilizational Collapse? A Look At Rome
• Zero HedgeIn a Tuesday thread posted to X, user 'Culture Critic' (@Culture_Crit) posted a deep dive into the unraveling of the Rome in the 3rd century. Let's jump in;
Does inflation lead to civilizational collapse?
— Culture Critic (@Culture_Crit) May 14, 2024
Well, in the 3rd century, the Roman Empire began to buckle under the weight of state spending.
It frantically "printed" money until things went horribly wrong... (thread) ???? pic.twitter.com/DRdCa6A8BO
When Augustus slowed the expansion of the empire, wealth stopped flowing from conquered lands into the treasury. Managing expenditures (construction, armies, bureaucracy) became increasingly difficult.
Whenever costs exceeded tax income, emperors minted new coins to cover it. Mining precious metals increased the supply of gold and silver coinage.