Trade and tariffs in the Roman world

How ancient Romans invested and worked

The first stock exchange didn't open for business until the early 1600s, but that didn't stop the Ancient Romans from working and investing their money centuries before. While Romans are better known for their political inventions than their economic ones, understanding how they viewed money can help paint a better picture of the Roman mindset that created systems like democracy. Read this article to learn more.

See a collection of ancient Roman coins used on the Silk Roads

As ancient Rome's appetite for eastern luxuries grew, long-distance trade routes linking the Mediterranean to Asia emerged along what became known as the Silk Road. Without shared language or legal systems, merchants could use the reliable Roman coins to exchange with other cultures. This exhibit features gold and silver pieces bearing the portraits of emperors and Latin inscriptions.

Explore the complex trade-offs policymakers face when considering tariffs

While tariffs can generate government revenue and encourage the consumption of locally produced goods, they can often lead to higher consumer prices and may negatively impact economic growth.

‘Roman military pensions’ were among the first known pensions in history

Instituted by the first Roman emperor, Augustus, around 13 BCE, these early iterations of pensions made it so soldiers sometimes received about a decade's worth of their pay, plus some land to live on. Augustus instituted these pensions to secure loyalty and reduce the risk of coups and unrest. This video includes more fun tidbits about the history of retirement.

A history of Rome and wine

Wine and winemaking were integral parts of everyday Roman life. Wine was used medicinally and for religious rites, as well as for pleasure. It also contributed to the expansion of the Roman empire as wine and grapes were traded throughout the Mediterranean. Roman winemaking practices spread as the empire grew. Without Rome, wine may never have grown into what it became, and vice versa.

Tariffs once fueled the US economy

US tariffs peaked in 1930 with the Smoot-Hawley Tariff Act, which slashed global trade by 65%. Once a key revenue source, tariffs gave way to income taxes in 1913, leading to decades of lower trade barriers. Today, US tariffs remain among the lowest worldwide.

Twelve centuries of Roman history in 20 minutes

The Roman Empire may have been the world's first example of globalization, covering thousands of miles and crossing language barriers armed with Latin and short swords. Its legacy is nearly unparalleled in contemporary Europe, with nearly 50 Romance languages deriving from Latin.

What are tariffs and how do they work?

Tariffs are taxes on imported goods paid by importing companies but typically passed on to consumers. They vary by country and product and, despite recent spikes, have historically accounted for less than 2% of federal revenue. Explore more with these data visualizations from USAFacts.

Stanford built a Google Maps for the Roman Empire, revealing how much it cost to travel in the ancient world

Estimate the costs of an ancient Roman vacation

Thanks to a sophisticated system of roads, Romans could travel great distances for their Roman holidays. This interactive resource from Stanford allows you to create fictional journeys around the empire, seeing approximate routes, costs, and time.

Death taxes have helped fund wars since the 1860s

Death taxes date back to 700 BCE and were used in Ancient Rome and Ancient Egypt. In the US, they've been used to finance wars since the Civil War, and have been levied on both the estate and beneficiary. The estate tax created during WWI to help finance war efforts is still in effect today.

Roman terror was key to its centuries-long dominance

Historians like Polybius recorded Rome's violent tactics in detail, including the enslavement of entire populations and the mass killing of whole cities. Even as terror and violence proved effective in war, many Romans came to view the tactics with skepticism.

250 years of world trade history

Adam Smith’s revolutionary ideas about free trade were often ignored throughout American history to protect domestic industry—until World War II caused a shift in sentiment about global trade.

Global trade volume is roughly 45 times what it was when the General Agreement on Tariffs and Trade was founded

Since 1950, world trade values have grown nearly 410 times, mainly due to the successive tariff reductions negotiated under GATT and the WTO.

The Tariff Act of 1789 was one of America's first acts

One of the first acts ever passed by the United States Congress instituted tariffs on foreign goods. The bill was sponsored by then-Congressman James Madison and signed into law by President George Washington. The goods the first Congress felt necessary to tax included Jamaican rum, playing cards, and—of course—British tea.

A trade war is an economic conflict where nations impose tariffs or other trade barriers on each other in retaliation for similar actions

The US-China trade war is one example. While they aim to protect domestic industries, they can lead to higher prices for consumers and strained international relations.

The 12 tables: Rome's attempt to fairly enforce the law

It's unclear exactly why ancient Romans drafted the Laws of the Twelve Tables in the mid-400s BCE, but the result was a collection of precisely worded, written laws that could be made known to everyone. This article explores the history and importance of these 12 bronze tables, which were an attempt to make the law equally applicable to all and were destroyed when Rome was attacked in 390 BCE.

Wealthy patricians and poorer plebeians struggled for power for centuries

During the Roman Republic, the plebs sought political protection, more access to power, and freedom, while the patricians looked to protect their elite status and wealth. Plebeians regularly "seceded," or effectively went on strike and did not fight for the patricians.

Maritime trade in the Mediterranean accelerated during the late Bronze Age

This map illustrates the vibrant trade networks of the eastern Mediterranean during the Late Bronze Age (circa 1500–1200 BCE), highlighting an era of growing interconnectivity among major powers including Egypt, the Hittite Empire, Mesopotamia, and others.

Thermopolia were ancient Roman snack bars

Although they weren't exactly restaurants, with sit-down service or extensive menus, thermopolia were modest food counters for Romans looking for quick bites—often bread with fish, cheese, and lentils.

The ancient Games at Olympia ended after 1,500 years due to economic issues

The ancient Olympics came to an end in 393 CE, and some historians point to Christian Roman emperor Theodosius I's ban on celebrating pagan festivals. This article explores an alternative theory: a bad economy. The writers cite the Theodosian Code, which makes no mention of the Olympics, and multiple records that mention the Olympics after Theodosius' death.

Humans have speculated about alien life since ancient times

Around 50 B.C.E., Roman poet and philosopher Lucretius shared the idea that alien life was possible, which was put forth by Greek philosopher Epicurus. The writing is believed to be the first straightforward assertion in Western literature that aliens must exist.

Governments have historically used counterfeiting for economic warfare

Inserting fake currency into an economy can help destabilize it. During the American Revolution, for instance, the British distributed counterfeit “Continental Dollars” in an effort to devalue the currency being used in the US at the time with the goal of undermining America’s growing financial credibility. The Nazis also ran an extensive counterfeiting scheme during WWII.

British rule in India wasn’t deliberate—it developed from trade

This academic explainer shows how Britain’s rule in India evolved from unplanned trading footholds to complete imperial control. It examines the decline of the Mughal Empire, economic expansion, racism, rebellion, and the mixed legacy of institutions and exploitation that still shape India today.

Hear how gladiator fights were funded, judged, and sometimes fixed

In a wide-ranging interview, Professor Michael Carter unpacks the business of gladiatorial games—from advertising and fighter merch to referees, match rules, and a code of conduct that often pushed gladiators to spare defeated opponents.

How America became a nation of gamblers

For thousands of years, humans have liked to gamble. What started as dice games and betting on chariot races became a way for states to generate revenue here in America. This article explores how states have been using gambling to pay for infrastructure and capital projects–and the cost it’s had on the citizens.

Graffiti dates back to at least ancient Pompeii, where citizens scrawled messages to one another on public walls

The US dollar is the most widely circulated currency in the world, and is involved in nearly 90% of global transactions

Art theft is the third-largest source of criminal revenues worldwide, thanks in part to the subjective nature of valuing a work of art.

Volcanic activity may have triggered the Black Death by spewing gases that led to crop failures in Europe, thus forcing the import of grain ships with plague-infested fleas.

While the first exchange-traded fund (a 'basket' of different assets that can be bought and sold on a stock exchange) in the US only launched in 1993, the global ETF market has grown to more than $10T in the short time since.

Learn more about the history of fireworks, which dates back to an accidental invention during an alchemist's quest for information about immortality.

The idea for the Federal Reserve was conceived in secret in 1910—with bankers donning duck hunt gear for disguise while traveling to a remote country club on Georgia's Jekyll Island

Mark Twain spent decades feuding with the US Postal Service, convinced its costs and regulations were bureaucratic overreach.

The rivalry between Alexander Hamilton and Thomas Jefferson centered on federalism—the question of how much power the federal government should hold relative to the states.

Some coin denominations have ridges etched on their sides, partly to prevent counterfeiting, in a practice called 'reeding.'

The US Constitution is widely regarded as the longest-standing written national constitution still in force—see how it has influenced rights worldwide.

The term 'algorithm' originated from the Latinized name of al-Khwārizmī, a 9th-century mathematician whose works introduced Arabic numerals and the decimal-based numeral system to Europe and whose treatise 'Al-Jabr' gave algebra its name.

The price of gas is a composite made up of several different factors, with the federal gas tax making up less than 20% of what drivers pay at the pump.

For centuries, it was common to sleep in two shifts: a few hours at the beginning of the night, and a longer period beginning around midnight

The United States has had a tumultuous relationship with Cuba since its 1959 revolution, highlighted by a nuclear crisis and a decades-long trade embargo.

Jimmy Carter signed a 1978 bill that legalized home brewing, a move credited with kick-starting the craft beer industry.

The Brothers Grimm were lawyers before they were storytellers, and became interested in fairy tales as they began investigating how rules and customs had been passed down through cultures.

Use this tool to calculate the dollar value of your parental mental load, from meal planning to coordinating after-school care, then see resources that help generate solutions.

One disco producer saw 'Star Wars' four times on its opening weekend and was so inspired that he recorded the album 'Star Wars and Other Intergalactic Funk,' which produced a chart-topping single.

Electrical grids worldwide must double their power delivery capacity by 2050 to meet surging demand from AI and electric vehicles.

Hookworm infection, though risky, may help fight certain autoimmune conditions by tamping down the immune system's inflammatory response.

The first steps to rebuilding your credit score include getting to know exactly what's on your credit report and figuring out how far you are from the '700 club,' or 'good score' range.

To reduce wrinkles in clothing, research recommends gentle wash cycles with more water and tumble drying with smaller loads and longer times.

The identity of the Tank Man in the iconic photo from the 1989 Tiananmen Square protests remains unknown and was possibly killed.