The history of the
Roman economy covers the period of the
Roman Republic and the
Roman Empire. Recent research has led to a positive reevaluation of the size and sophistication of the Roman economy.
Moses Finley was the chief proponent of the primitivist view that the Roman economy was "underdeveloped and underachieving," characterized by
subsistence agriculture; urban centres that consumed more than they produced in terms of trade and industry; low-status artisans; slowly developing technology; and a "lack of economic rationality." Current views are more complex. Territorial conquests permitted a large-scale reorganization of
land use that resulted in agricultural surplus and specialization, particularly in north Africa. Some cities were known for particular industries or commercial activities, and the scale of building in urban areas indicates a significant construction industry. Papyri preserve complex accounting methods that suggest elements of
economic rationalism, and the Empire was highly monetized. Although the means of communication and transport were limited in antiquity, transportation in the 1st and 2nd centuries expanded greatly, and trade routes connected regional economies. The
supply contracts for the army, which pervaded every part of the Empire, drew on local suppliers near the base
(castrum), throughout the province, and across provincial borders. The Empire is perhaps best thought of as a network of regional economies, based on a form of "political capitalism" in which the state monitored and regulated commerce to assure its own revenues. Economic growth, though not comparable to modern economies, was greater than that of most other societies prior to
industrialization.