My latest Macro Musings podcast is with Mark Koyama. Mark is an assistant professor of economics at George Mason University where he specializes in economic history, the roles institutions play in economics, and how culture and economics interact. Mark recently has recently written on the macroeconomics of ancient Rome and he joined me to talk about it.
This was a super fascinating conversation where we cover the history of Rome, the extent and depth of markets in ancient Rome, and the long-run growth prospects of Rome. We also discuss the the extent to which credit and financial markets were developed in Rome, including the well-documented financial panic of 33 AD that affected various part of the empire.
Part of our conversation was motivated by Peter Temin's book The Roman Market Economy. Apparently, some ancient historians have had a hard time accepting the premise of a market economy in Rome. Peter Temin book pushes back against this view drawing upon economics, other recent work, and archaeological evidence. The evidence increasingly points to an integrated market economy that existed throughout the empire.
You can listen to the podcast on Soundcloud, iTunes, or your favorite podcast app. You can also listen via the embedded player above. And remember to subscribe since more shows are coming.
Mark Koyama's web page
Mark Koyama's twitter account
Mark Koyama's posts on Rome