Question

Many historians have drawn important parallels between the Roman Empire and modern day America - in terms of political, social and economic/monetary circumstances. Identify and describe at least three of these parallels – including at least one monetary example.

Answer 1

Despite the efforts of some American leaders to set a different course than that experienced by the Roman Republic, an analysis of the two is inevitable.

• Global influence and dominance:-Both societies were the preeminent entities in their worlds including “hard” power (military might and economic power) and “soft” power (language, culture, commerce, technology and ideas). Their dominant stature is taken for granted within their own societies and the world at large.
• Solipsism:- Americans have long believed that they are the straw that stirs the drink with qualities and abilities superior to other countries. In ancient days, all roads led to Rome, the center of the Ancient World – or so Roman citizens believed. Publius Cornelius Tacitus claimed that even “things atrocious and shameless flock from all parts to Rome.” According to Murphy, “Both see themselves as chosen people and both see their national character as exceptional.”
• Collapse of the middle class:-The Roman middle class was crushed by cheap overseas slave labor; the rising income inequality due to technological change and the transfer of jobs to overseas labor threatens the middle class of America today.