The Romans were originally an agricultural people, mostly small farmers with a high regard for property rights. Agricultural free trade changed the Italian landscape, and by the 1st century BC, vast grape and olive estates had supplanted the yeoman farmers, who were unable to match the imported grain price. The annexation of Egypt, Sicily and Tunisia in North Africa provided a continuous supply of grains. In turn, olive oil and wine were Italy's main exports.
Commerce in the other hand, did not rate highly in the Roman system of values; it was left in the hands of inferior social classes, foreigner and even slaves.
Industrial and manufacturing activities were smaller. The largest such activities were the mining and quarrying of stones in which the majority of the workers were slaves, meaning that there was very slavery dependent, reaching 20% of the total population of the Roman Empire, affecting the price of free labor.
Why did the Roman Empire collapse? …show more content…
Among these were Germanic incursions from the north, localized labor shortages, and a gradual monetary inflation. All of these problems increased in severity in the third century, especially the inflation resulting from the continual debasement of the coinage by a treasury whose expenses always exceeded its revenue. The inflation however, was symptomatic of more fundamental economic problems caused by the increased extent of the empire and the rising costs of defending its expanding perimeters in the north and the