NOTES FOR STUDENTS OF ECONOMICS

1. Roman
ROMAN
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2. THE ROMAN THOUGHT:
 Roman did not contribute much to the development of
economic thought.
 Their ideas were borrowed from Greek
 They were Empire builders.
 Rome was a city-state with agriculture as the base of its
economy.
 Rome are greatly influenced by the Greeks.
 The war results serious economic dislocation
 The rich become richer and poor become poorer.
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3. DIFFERENCES BETWEEN
ROMANS AND GREEKS
 The Romans were particularly interested in power, and
much less interested in balance than the Greeks. There
was one big difference.
 The Romans built up a vast empire: the Greeks didn’t,
except for the brief moment of Alexander’s conquests,
which soon disintegrated.
 The Romans were confident in their own
organizational power, their military and
administrative capabilities.
 The Greeks enjoyed an artistic and intellectual
inheritance. But the Romans respected this inheritance.
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4. LATIN LITERATURE
 The native language of the Romans was Latin
 The Romans produced many works of poetry, comedy,
tragedy, history
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5.  The Architecture of Ancient Rome adopted the external
Greek architecture for their own purposes, which were so
different from Greek buildings.
 Social elements such as wealth and high population densities
in cities forced the ancient Romans to discover new
(architectural) solutions of their own.
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ARCHITECTURE

6.  During the time of decline of Roman empire, few of Roman give attention
on Economic question.
 The economic topic; in Rome were discussed by Their Philosophers.
 The Roman regarded agriculture as most profitable, respectful and
delightful occupation.
 They dislike luxury and believed on simplicity of life.
 The Roman Philosopher regarded money lending as big a crime as
murder.
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ROMANS AND ECONOMICS

7. Seneca, a Roman, Philosopher, believe money as the root of most evils, but
he has pointed how trade between nations take place , out of comparative
advantage.
The agriculture writers have discussed the problem of employment of slave
labor on farm, the size of holding, and so on.
Rome are in favors of small frames.
The attribute large farm , as inefficient.
They regard slave labor as inefficient , and uneconomical when applied on
land.
Slaves did not get kind treatment , when they became too old they were
sold.
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ROMANS [SENECA]

8. The Roman law plays an important role in the history of economic
analysis.
Roman judges were laymen, and they have to be told what the law was.
The Roman had two sets of laws.
1. The civil law: (Jus civile) applied on the affairs of citizens.
2. Jus Gentium: referred to the body of laws that were applicable to
commercial and other relations between foreigners, or between citizen
and foreigners.
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ROMANS LAW

9.  The Roman law based on the fact with the institutions of private property
and contract.
 The Roman law has also provided the definitions of the concept of price ,
money , purchase and sale various kind of loans
 Their historical mission was military and political.
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