In: Economics
1. Explain in simple ECONOMIC terms (1/2 page or more) why Rome failed as a superpower.
Rome is the capital of Italy. Entire world saw Rome as the most powerful empire in the past times. Its architecture is very impressive. It has a glorious ancient heritage. Poor economic policies of Rome resulted into a weak military which made it easy for the barbarians to access the empire. There were various reasons due to which Rome failed as a superpower. Some of them are mentioned below:
1) The oppressive taxation system & inflation contributed towards widening the gap between the rich & poor. People who belonged to wealthier class in order to avoid taxes fled to the countryside in order to set up their independent areas.
2) Rome also has to face labor deficit due to which its agricultural & commercial production declined which impacted the entire economy negatively.
3) The Roman empire was expanded on huge scale. It was difficult to govern the vast territory. There were several administrative problems. Over expansion of Roman empire resulted in an increase in its military expenditure because in order to protect the vast empire from enemies, one has to put in more funds in military facilities. Due to which technological advancement of Rome slowed down & civil infrastructure was damaged as it was not properly maintained from time to time. With time it became difficult to maintain a strong military also & protect the territory from enemies which lead to decline of Rome.
4) Also, the government was inconsistent & ineffective to govern the territory. The over expansion of territory along with an ineffective government contributed towards the downfall of the Roman empire. There was also widespread corruption. People of the territory lost their trust in the leadership.
5) Rome also faced the poverty problem as huge portion of its economic resources was concentrated in few hands only. The wealthier class enjoyed huge economic power.
So, we can conclude by saying that unstable & corrupt government, poor economic policies, weak military resulted in the decline of Rome & Rome failed as a superpower.