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No Dumb Questions

133 - A Brief History of Inflation In The Roman Empire

No Dumb Questions

No Dumb Questions LLC

Nodumbquestionssciencehistorydestinmattsmartereverydaysmartereeryday, Education, Society & Culture

4.92.5K Ratings

🗓️ 20 May 2022

⏱️ 87 minutes

🧾️ Download transcript

Summary

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STUFF IN THIS EPISODE:

Racoon Mountain

Archimedes’ Eureka Moment

Pontius Pilate

Debasement

Julius Caesar

Augustus Caesar

Denarius

Marcus Aurelius

Caracalla

Keynesian Economics

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Transcript

Click on a timestamp to play from that location

0:00.0

In a previous episode, you gave me silver coins and talked to me about how it has two different

0:08.2

types of value.

0:09.2

You just briefly recap that.

0:11.4

Sure.

0:12.4

It has value because it's made of metal and the metal is valuable.

0:15.2

In this case, silver, because you have to get it out of the ground.

0:18.0

Silver has certain properties and is useful for things that other materials aren't.

0:21.4

So it has a material, rarity, human effort value, and then it also has a collector value

0:27.4

because of what the coin is when it was struck, what's on it, how rare the coin is, how

0:33.7

much collectors want it.

0:35.5

So both of those things add up to value.

0:39.3

So to be clear, I'm not into this.

0:42.4

Yeah, currently.

0:43.4

Currently.

0:44.4

I'm not into this.

0:45.4

But in the interest of learning about different things, I think it's interesting just as a thing.

0:52.0

But the idea that you can go by essentially, you're buying a metal and you're waiting for

0:57.5

time to do work for you kind of or you're just storing value.

1:03.0

It's a way of storing value.

1:04.4

It's like an original, the original way that people store value.

1:07.2

Is that a way to say it?

1:08.4

Yeah, it's money insurance.

...

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