Sunday, 3 March 2013

Everything old is new again



Now I have to admit, in this age of the global economy and the high-speed internet it can be hard to see any point dwelling on the past, particularly one so distant that it can't possibly impact on the futures market. I mean, Decatur and Texas are a long way from Caesar and Sulla - there's nothing those guys did two thousand years ago that impacts on day traders, right? Well, okay, apart from one inventing the modern calendar and the other holding together the Roman Republic long enough for that to happen. Oh, and producing the first currency based 'European Union' that like the modern one also relied on Asia for most of its imports. No parallels there. Even the peoples of the Arabian Peninsular grew incredibly rich on a single 'must have' commodity...frankincense. The fact is, although the technology has changed, basic economics haven't. What worked then worked now. And what didn't work then doesn't work now. We've got to stop trying to invent the wheel everyday, some other guy's already done it. For more on the Roman economy check out 'A Body of Doubt' - live on Amazon now