ROMAN COMMERCE Meaning and
Definition
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Roman commerce refers to the economic system and trade practices that existed during the time of the Roman Empire. Dating back to the 8th century BC and lasting until the 5th century AD, Roman commerce played a crucial role in the expansion and sustenance of the empire.
Roman commerce encompassed various activities related to the exchange of goods and services, including both domestic and foreign trade. The Romans had a vast network of trade routes, facilitated by an extensive road system that connected distant regions. This allowed for the transportation of goods such as grain, olive oil, wine, metals, textiles, and luxury items like spices and silk.
Trade in the Roman Empire was primarily conducted through private enterprise, with merchants playing a central role. The Roman government supported commerce by imposing taxes and providing protection to traders and their assets. Additionally, the creation of a standard currency, the denarius, enhanced commercial transactions, fostering a more unified and efficient economy.
Roman commerce was not limited to land trade but also involved maritime business. The Mediterranean Sea served as a vital platform for shipping goods to and from various regions, allowing for the establishment of trading ports and the development of a maritime fleet.
Furthermore, the Romans developed a sophisticated banking system, which facilitated the exchange of funds and the extension of credit. This financial infrastructure included institutions such as the argentarii (money changers) and the later advent of public banking houses.
Overall, Roman commerce played a fundamental role in the prosperity and expansion of the empire, both internally and externally, allowing for the circulation of goods, the accumulation of wealth, and the diffusion of cultural influences.
Etymology of ROMAN COMMERCE
The etymology of the phrase "Roman commerce" can be understood by examining the origins of the individual words: "Roman" and "commerce".
1. Roman: The term "Roman" refers to anything related to ancient Rome, which was a powerful civilization in classical antiquity. Rome was the capital city of the Roman Empire and the center of Roman culture, politics, and administration.
The word "Roman" itself comes from the Latin term "Romanus", which means "of Rome" or "belonging to Rome". It is derived from the Latin noun "Roma", the name of the city.
2. Commerce: The word "commerce" comes from the Latin term "commercium", which is a combination of the prefix "com-" (meaning "together" or "with") and "mercium" (meaning "trade" or "merchandise").
