Cameron Hawkins | Credit Markets and Economic Life in Ancient Rome
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- Money Matters: The Development of Money through the Ancient World. A four-part series that traces the development of economic systems in the ancient world and explore how money as a financial instrument has evolved over the millennia.
Credit Markets and Economic Life in Ancient Rome
December 3, 2014
Cameron Hawkins
Assistant Professor, History and the College, University of Chicago
The nature of the ancient Roman economy ensured that there was always a strong demand for credit at all levels of the socio-economic spectrum. Individuals relied on credit not only to fund personal consumption, but also to secure access to business assets and to working capital. Loans extended by professional bankers and moneylenders satisfied some of this demand, but personal credit - whether offered by suppliers to other businessmen, or by retailers to their customers - remained vital to economic life in the Roman world.
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Was fantastic to have him on my podcast.
This extension of credit by small retailers lasted in the US through the 1950s and *the 1980s* via "store credit cards". BankAmericard (now Visa) and Master Charge (now MasterCard) slowly obviated the need for it, by switching the creditor function from the retailer to the banks.
Absolutely brilliant! Fascinating material, superb presentation, great graphics, many insights on what used to be called 'the ancient economy.' Prof. Hawkins blends archaeological finds, meticulous use of Latin textual material, and a detailed understanding of both finance economics and labor economics to create a new understanding of Roman social/economic life in the era.
Fascinating! The idea of a seasonal movement and variability in work, the population/migration of people to Rome in particular, is very different from our popular image of a huge city where people just stay inside and work throughout the year (no doubt shaped by our modern routines of work at a fixed location + a fixed monthly salary throughout the year).
Awesome lecture. Its interesting how you tried to find glimpses of information on the subject at study from completely unrelated sources.
Finance is so fascinating
I can picture the migrant flow of people into Rome, with their wagons and carts and horses. People by the thousands and tens of thousands traveling down the roads leading to Rome. As you picture of the traffic on the highways in the major cities, there was once a time when people on mimicked the hustle and bustle in there times ❤️
The third installment in our four-part series 'Money Matters: The Development of Money through the Ancient World'.
Great presentation!
What Count Marco said. Brilliant! Thanks.
Essential stuff great lecture
A very enjoyable talk. Thanks OI!
+G.K. Chesterton Glad you enjoyed it!
Obviously a brilliant man, and quite a handsome one as well. I have no doubt his students adore him
How do we find the other 3 talks? (I could work on a search, but make it easy for me, please.)
Click on The Oriental Institute underneath the video, and all other talks that they posted will appear.
Ancient Rome?
17:10
thx, now after listening about London for 15min I really appreciate your time-tag xD.