Asset Inflation Reluctant Receipiant Two-Tier Monetary Systems Law of Value

Principles of Economy by Martin A. Armstrong Asset Inflation Asset Inflation is quite different from cost-push or demand-lead inflation. Unlike these other forms of inflation, Asset Inflation is created soley by the actions of government through the means of its too often unrestrained fiscal policies. Hence, Asset Inflation is the direct result of a depreciation […]

Bourgeoisie Capitalism Modern Capitalism Collectivism Communism Marxism Merchantilism Physiocrats Socialism Taxation

Introduction History of Economic Thought While the history of economic thought is generally begins with Adam Smith, the trail leads much further back in time. In 1742, Francis Hutcheson was a professor of Philosophy at the University of Glasgow. Hutcheson was the teacher of Adam Smith and most likely inspired his great quest to understand […]

Pliny, Letters 96-97 AD Pliny to the Emperor Trajan It is my practice, my lord, to refer to you all matters concerning which I am in doubt. For who can better give guidance to my hesitation or inform my ignorance? I have never participated in trials of Christians. I therefore do not know what offenses […]

Arch of Titus The Arch of Titus was constructed by his brother Domitian. It stands by the Colosseum on the Sacred Way leading to the center of the Forum. It contains a vaulted arch with columns and massive supporting walls. Various friezes display Titus’ conquest of Judaea in 70 AD. Of particular interest is the […]

Tokens of Rome Julio-Claudian Period Tokens first appeared in Roman society as issues struck for special events and games. Most of these tokens portrayed the image of Augustus but some also display the image of Antonia perhaps struck by her son Claudius for games held in her honor. The charioteer is by far among the […]

Prostitute Tokens of Rome From the time of Tiberius 14 AD-37AD The Monetary History of the World © Martin A. Armstrong

The Arch of Septimius Severus Dedicated 203 AD The Arch of Septimius Severus was was erected in 203 AD in the honor of Septimius Severus for his victories. Besides depictions of enemy prisoners being escorted by legionaries, representations of the divinities of the rivers shown over the lateral arches, battle scenes and sieges and the […]

Scribonia Frst wife of Octavian Scribonia was the first wife of Octavian (Augustus). Scribonia was the sister of Lucius Scribonius Libo who was also the father-in-law ofSextus Pompey. Scribonia is said to have been considerably older than Octavian. In fact, her marraige to Octavian was her third. Previously, Scribonia was twice married to former consuls. Octavian’s […]