The Roman economy was successful for several important reasons:
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Building Roads:
- The Romans built over 250,000 miles of roads.
- This made it easier to move goods and soldiers throughout the empire.
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Trade Connections:
- The Roman Empire had a wide network of trade reaching places like the Middle East, Africa, and Europe.
- Key ports, like Ostia and Alexandria, helped with this trade.
- Alexandria was especially busy, handling about $50 million in trade every year.
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Coins for Trading:
- The Romans introduced a silver coin called the denarius.
- This made it easier for everyone to trade, as there was a common money system.
- It also helped keep prices stable for many years.
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Farming Practices:
- Romans used large farms called latifundia, which were worked by slaves.
- This system increased food production.
- For instance, provinces like Egypt provided about 40% of the empire's grain, feeding cities filled with people.
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Tax System:
- The Roman tax system included a land tax and a head tax.
- This brought in a lot of money for the empire.
- By the 2nd century AD, taxes accounted for about 20% of the empire's economy, helping to support the army and public projects.
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Strong Military:
- A strong military protected trade routes and borders, helping businesses grow.
- Roman soldiers were stationed all around the empire, maintaining peace and protecting economic interests.
All these factors worked together to build a strong economy. This strength was important for the Roman Empire’s lasting influence and its ability to expand across three continents.