Inflation and the Fall of the Roman Empire - Joseph R. Peden - Mises Institute »
Posted By populist 4 months ago in Business & Finance
Monetary policy therefore always serves, even if it serves badly, the perceived needs of the rulers of the state. If it also happens to enhance the prosperity and progress of the masses of the people, that is a secondary benefit; but its first aim is to serve the needs of the rulers, not the ruled. This point is central, I believe, to an understanding of the course of monetary policy in the late Roman Empire.
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populist
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