A study recently published in the Journal of Archaeological Science has analyzed the relative costs of transporting goods by different means in late Roman Britain, challenging some long-held notions about the economy of the Roman Empire. The research team, led by Rob Wiseman from the University of Cambridge, has developed a novel method for calculating […]
Economy
Posted inMiddle Ages
Reinterpretation of runic inscription on a ring reveals how much things cost in the Viking Age
A reinterpretation of the runic inscription on the Forsa Ring, an ancient Viking artifact, has shed new light on the monetary systems of the Viking Age. This discovery represents the oldest documented record of value in Scandinavia and reveals how Vikings managed fines in a surprisingly flexible and practical manner. The Forsa Ring, an iron […]
Posted inBronze Age Archaeology
Market economy has existed for at least 3500 years, and predates any form of state
Market economies have been a driving force in human society for at least 3,500 years, predating even the earliest forms of state governance. A recent study published in the journal Nature Human Behaviour by archaeologists from the universities of Göttingen and Salento challenges the conventional notion that market economies are a modern innovation. By examining […]
Posted inModern Era
Latin Monetary Union, the First Attempt to Create a Supranational Currency, which Operated until after World War I
We all remember the night of December 31, 2001, because at the stroke of midnight, we not only entered another year but also adopted a new currency, the euro, and some rushed to ATMs to see and touch the freshly printed bills from the European Central Bank. The idea of an international currency unification was […]
