Money and Prices in the Early Roman Empire

Kessler, David; Temin, Peter

doi:10.2139/ssrn.704724

Cited by 9 publications

(5 citation statements)

References 13 publications

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“…24 With regards to the mid-second century, Cuvigny (1996: 139-45) has noted the strong correlation between the pay-scales for Dacian miners and quarrymen at Mons Claudianus, suggesting the possibility of economic integration in terms of wages. Moreover, Kessler and Temin (2008) have argued that the Empire was thoroughly monetized with a fixed exchange rate between sestertii (Western) and drachmas (Eastern Mediterranean) and with an integrated market (at least in terms of wheat). this fate, likely because it had become common enough not be considered a luxury.…”

Section: Methodological Issues: Identification Description and Scalementioning

confidence: 99%

Black Pepper Consumption in the Roman Empire

Cobb

2018

J. Econ. Soc. Hist. Orient

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During the Roman Imperial period huge quantities of black pepper arrived into the Empire from southern India and were employed in a range of contexts, from the culinary and medicinal, to the religious. This article seeks to examine the popularity of black pepper in the Roman Empire and test the theory that its consumption was not simply restricted to elite circles, but reached a wider spectrum of the population. In particular, price and wage data from theEdict of Maximum Pricesis examined to see how feasible it was for those lower down the socio-economic spectrum to make such purchases.

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Section: Methodological Issues: Identification Description and Scalementioning

confidence: 99%

Black Pepper Consumption in the Roman Empire

Cobb

2018

J. Econ. Soc. Hist. Orient

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“…Between several estimations of wealth and wages in different eras in the Roman Empire [112], we adopted the values referred to in the period of construction of the Hadrianic aqueduct [105,106,[113][114][115][116][117][118][119][120][121][122] (Table 2 and Figure 27). We also adopted the values referred to in the New Testament, which was written around this period [1] (Matthew 20:2; Kατά Mατθαίo 20:2): καὶ συµϕωνήσας µετὰ τῶν ἐργατῶν ἐκ δηναρίoυ τὴν ἡµέραν ἀπέστειλεν αὐτoὺς εἰς τὸν ἀµπελῶνα αὐτoῦ.…”

Section: Duration Of the Construction Of Hadrianic Aqueductmentioning

confidence: 99%

“…Daily wages in asses and wheat in Rome Empire 1st c. AD[105,106,[113][114][115][116][117][118][119][120][121][122].…”

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confidence: 99%

Values and Costs in History: A Case Study on Estimating the Cost of Hadrianic Aqueduct’s Construction

Sargentis

Defteraios

Lagaros

et al. 2022

World

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The pursuit of wealth has been a basic occupation of humans; as it turns out, wealth increases life expectancy. Analyzing global data, we show that money, probably connected with medical care, increase life expectancy. However, the base of real wealth is access to the Water–Energy–Food nexus, and the access to this also increases life expectancy. The first objective of this study was to compare the present values of wealth with antiquity, and we showed that about 1.4 billion people live in the present under the average lower wages of antiquity. As a case study, we analyze the construction of the Hadrianic aqueduct. We present a detailed description of the construction and the used methods, and we identify the total requirement of labor–time. Then, we investigate the wages of various occupations in the first century AD. The second objective of this study was the estimation of the total cost of daily wages for the construction of the project and the effect of the aqueduct on Athenians’ quality of life. Finally, we show that, today, about two billion people live with less available water than Athenians had with the Hadrianic aqueduct in the second century A.D.

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“…To our knowledge,Kessler and Temin (2008) is the only study that provides econometric evidence for trade costs influencing economic integration during the Roman era. They show that Roman grain price differentials decline in distance (based on six price pairs).3Ahern, Daminelli and Fracassi (2015) document a negative relationship between cultural distance and the volume of cross-border mergers.…”

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confidence: 99%