REVISITING ROMAN ECONOMIC GROWTH: PREDATORY POLICIES, SELF-SUSTAINING STRATEGIES, AND THE LIMITS OF NEO INSTITUTIONAL ECONOMICS

This paper critically examines the traditional perspectives on ancient economic growth, specifically the Malthusian and Smithian viewpoints, which emerged within the framework of Neo Institutional Economics (NIE). By delving into recent literature, the study highlights the limitations of these perspectives in providing a comprehensive understanding of macroeconomic dynamics and empirical evidence in the context of the Roman Empire. The paper argues that sustained economic growth in ancient Rome can be attributed to a hybrid model, combining predatory actions resulting from military conquests and long-term self-sustaining strategies centered around market mechanisms. These findings challenge the predictive power of the NIE approach in accurately capturing the complexities of ancient economic growth.