Will Durant on How the Socialism of Imperial Rome Ushered in Feudalism0

• Economics
• June 6, 2018

In years of peace, Diocletian, with his aides, faced the problems of economic decay. To overcome depression and prevent revolution, he substituted a managed economy for the law of supply and demand. He established a sound currency by guaranteeing to the gold coinage a fixed weight and purity which it retained in the Eastern Empire till