Roman monetary history has tended to focus on the study of Roman coinage but other assets regularly functioned as, or in place of, money. This book places coinage in its broader monetary context by also examining the role of bullion, financial instruments, and commodities such as grain and wine in making payments, facilitating exchange, measuring value and storing wealth. The use of such assets reduced the demand for coinage in some sectors of the economy and is a crucial factor in determining the impact of the large increase in the coin supply during the last century of the Republic. Money demand theory suggests that increased coin production led to further monetization, not per capita economic growth.

Like coinage, bullion, financial instruments and a variety of commodities played an important role in Rome's monetary system. This book examines how the availability of such assets affected the demand for coinage and the development of the late Republican economy.

Most people have some idea what Greeks and Romans coins looked like, but few know how complex Greek and Roman monetary systems eventually became. The contributors to this volume are numismatists, ancient historians, and economists intent on investigating how these systems worked and how they both did and did not resemble a modern monetary system. Why did people first start using coins? How did Greeks and Romans make payments, large or small? What does money mean in Greek tragedy? Was the Roman Empire an integrated economic system? This volume can serve as an introduction to such questions, but it also offers the specialist the results of original research.

Rome's conquests gave her access to the accumulated metal resources of most of the known world. An abundant gold and silver coinage circulated within her empire as a result. But coinage changes later suggest difficulty in maintaining metal supplies. By studying Roman coin-survivals in a wider context, Dr Duncan-Jones uncovers important facts about the origin of coin hoards of the Principate. He constructs a new profile of minting, financial policy and monetary circulation, by analysing extensive coin evidence collected for the first time. His findings considerably advance our knowledge of crucial areas of the Roman economy.

Plebs and Politics in the Late Roman Republic analyses the political role of the masses in a profoundly aristocratic society. Constitutionally the populus Romanus wielded almost unlimited powers, controlling legislation and the election of officials, a fact which has inspired 'democratic' readings of the Roman republic. In this book a distinction is drawn between the formal powers of the Roman people and the practical realization of these powers. The question is approached from a quantitative as well as a qualitative perspective, asking how large these crowds were, and how their size affected their social composition. Building on those investigations, the different types of meetings and assemblies are analysed. The result is a picture of the place of the masses in the running of the Roman state, which challenges the 'democratic' interpretation, and presents a society riven by social conflicts and a widening gap between rich and poor.

Rome's transformation from a regional force in Latium into a Mediterranean superpower (4th to 1st centuries BCE) was accompanied by an accelerated change of economic realities. The persistent influx of vast natural and monetary resources from abroad deeply altered the basis of Rome's military. As income skyrocketed, the exercise of political influence at Rome became increasingly intertwined with issues of personal finance. Despite claims for frugality, the political power of senatorial families was always determined through the accumulation of wealth. By the 1st century BCE, the competition of these families for rank and recognition was dramatically wrapped up with access to monetary capital and economic resources. When the republic finally fell, this was also due to a financial crash that hit the very centre of Roman society. Examining monetary and financial assets, this volume discloses how economic power and 'real' capital augmented the nature of aristocratic power at Rome. Papers are grouped in three topical clusters: Currencies of Power, Money and State Action, Wealth and Status.

Often viewed as self-sufficient, Roman farmers actually depended on markets to supply them with a wide range of goods and services, from metal tools to medical expertise. However, the nature, extent, and implications of their market interactions remain unclear. This monograph uses literary and archaeological evidence to examine how farmers – from smallholders to the owners of large estates – bought and sold, lent and borrowed, and cooperated as well as competed in the Roman economy. A clearer picture of the relationship between farmers and markets allows us to gauge their collective impact on, and exposure to, macroeconomic phenomena such as monetization and changes in the level and nature of demand for goods and labor. After considering the demographic and environmental context of Italian agriculture, the author explores three interrelated questions: what goods and services did farmers purchase; how did farmers acquire the money with which to make those purchases; and what factors drove farmers’ economic decisions? This book provides a portrait of the economic world of the Roman farmer in late Republican and early Imperial Italy.