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Pet Peeve: that BOGUS 'a sack of Gold for a loaf of bread' adage
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<p>[QUOTE="Ardatirion, post: 1570515, member: 9204"]I've read (and written) quite a bit on the ancient economy, so I probably could give some meaningful insight. But before I do, I must ask Juan Blanco - what is it you're trying to do? Your first post seems to start in medias res and the rest sort of rambles. No offense intended, I'm sure it makes perfect sense to those who followed the earlier thread. </p><p><br /></p><p>A few points to make clear before we go further:</p><p>- The standard unit of account, until the mid 2nd century, was the sestertius (abbreviated HS). Everything was denominated in sestertii and, though the actual exchange rate with the denarius fluctuated, it was generally accounted as 3 HS to the denarius. </p><p>- The aureus was struck continually to the reign of Constantine I, when it was replaced with the solidus. The fineness and weight was reasonably constant throughout. Debasement happened only in the silver coinage.</p><p>- Prices fluctuated regularly throughout the empire. What costs x in Rome may cost 3x in Antioch, and .5x in Spain. </p><p>- Because hard data is so lacking, studies of the ancient economy are extremely difficult. Any attempts to apply an unaltered modern economic model to the ancient world would therefor be so inaccurate as to be nearly pointless.[/QUOTE]</p><p><br /></p>
[QUOTE="Ardatirion, post: 1570515, member: 9204"]I've read (and written) quite a bit on the ancient economy, so I probably could give some meaningful insight. But before I do, I must ask Juan Blanco - what is it you're trying to do? Your first post seems to start in medias res and the rest sort of rambles. No offense intended, I'm sure it makes perfect sense to those who followed the earlier thread. A few points to make clear before we go further: - The standard unit of account, until the mid 2nd century, was the sestertius (abbreviated HS). Everything was denominated in sestertii and, though the actual exchange rate with the denarius fluctuated, it was generally accounted as 3 HS to the denarius. - The aureus was struck continually to the reign of Constantine I, when it was replaced with the solidus. The fineness and weight was reasonably constant throughout. Debasement happened only in the silver coinage. - Prices fluctuated regularly throughout the empire. What costs x in Rome may cost 3x in Antioch, and .5x in Spain. - Because hard data is so lacking, studies of the ancient economy are extremely difficult. Any attempts to apply an unaltered modern economic model to the ancient world would therefor be so inaccurate as to be nearly pointless.[/QUOTE]
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