Silver as an investment

The Decline and Fall of the Roman Denarius

Tuesday, February 28, 2012 at 12:27AM

[ED. this post is by Chris Horlacher, TDV Correspondent]

History repeats itself, so the scholars say.  But according to Mark Twain it just rhymes.  Literary quips and hair-splitting aside, I’ve found that one of the most valuable things anyone can do to advance their knowledge and understanding of the world is the study of history.  Now I’m not talking about the kind of history you get in grade school and university, where all you’re told to do is rote-memorization of people, dates and events.  To get any value whatsoever out of studying history, you have to be able to discern cause and effect.  What causes civilizations to grow to greatness, and what causes them to collapse?

There are few collapsed civilizations that have been studied in quite the depth as the Roman Empire.  Many theories have been offered, some with more merit than others.  Ludwig von Mises argued that Rome was eroded from within and that economics played a huge part in it.  This is too big of a story for me to cover in a single article, so I will focus on one of the most important aspects; the currency.



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