Economy
The economic resources that this imperial government existed to exploit had not changed since the Ptolemaic period, but the development of a much more complex and sophisticated taxation system was a hallmark of Roman rule. Taxes in both cash and kind were assessed on land, and a bewildering variety of small taxes in cash, as well as customs dues and the like, was collected by appointed officials. A massive amount of Egypt's grain was shipped downriver both to feed the population of Alexandria and for export to the Roman Capitol. Despite frequent complaints of oppression and extortion from the taxpayers, it is not obvious that official tax rates were very high. In fact the Roman government had actively encouraged the privatization of land and the increase of private enterprise in manufacture, commerce, and trade, and low tax rates favoured private owners and entrepreneurs. The poorer people gained their livelihood as tenants of state-owned land or of property belonging to the emperor or to wealthy private landlords, and they were relatively much more heavily burdened by rentals, which tended to remain at a fairly high level.
Overall, the degree of monetarization and complexity in the economy, even at the village level, was intense. Goods were moved around and exchanged through the medium of coin on a large scale and, in the towns and the larger villages, a high level of industrial and commercial activity developed in close conjunction with the exploitation of the predominant agricultural base. The volume of trade, both internal and external, reached its peak in the 1st and 2nd centuries. But by the end of the 3rd century, major problems were evident. A series of debasements of the imperial currency had undermined confidence in the coinage, and even the government itself was contributing to this by demanding more and more irregular tax payments in kind, which it channeled directly to the main consumers, the army personnel. Local administration by the councils was careless, recalcitrant, and inefficient; the evident need for firm and purposeful reform had to be squarely faced in the reigns of Diocletian and Constantine I.
Read more about this topic: Egypt (Roman Province)
Famous quotes containing the word economy:
“It enhances our sense of the grand security and serenity of nature to observe the still undisturbed economy and content of the fishes of this century, their happiness a regular fruit of the summer.”
—Henry David Thoreau (1817–1862)
“Quidquid luce fuit tenebris agit: but also the other way around. What we experience in dreams, so long as we experience it frequently, is in the end just as much a part of the total economy of our soul as anything we “really” experience: because of it we are richer or poorer, are sensitive to one need more or less, and are eventually guided a little by our dream-habits in broad daylight and even in the most cheerful moments occupying our waking spirit.”
—Friedrich Nietzsche (1844–1900)
“Everyone is always in favour of general economy and particular expenditure.”
—Anthony, Sir Eden (1897–1977)