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Home / Mike Norman Economics / What America can learn from the fall of the Roman republic — Sean Illing interviews Edward Watt, author of Mortal Republic

What America can learn from the fall of the Roman republic — Sean Illing interviews Edward Watt, author of Mortal Republic

Summary:
If you were a Roman citizen around, say, 200 BC, you probably would have assumed Rome was going to last forever.At the time, Rome was the greatest republic in human history, and its institutions had proven resilient through invasions and all kinds of disasters. But the foundations of Rome started to weaken less than a century later, and by 27 BC the republic had collapsed entirely.The story of Rome’s fall is both complicated and relatively straightforward: The state became too big and chaotic; the influence of money and private interests corrupted public institutions; and social and economic inequalities became so large that citizens lost faith in the system altogether and gradually fell into the arms of tyrants and demagogues.If all of that sounds familiar, well, that’s because the

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If you were a Roman citizen around, say, 200 BC, you probably would have assumed Rome was going to last forever.

At the time, Rome was the greatest republic in human history, and its institutions had proven resilient through invasions and all kinds of disasters. But the foundations of Rome started to weaken less than a century later, and by 27 BC the republic had collapsed entirely.
The story of Rome’s fall is both complicated and relatively straightforward: The state became too big and chaotic; the influence of money and private interests corrupted public institutions; and social and economic inequalities became so large that citizens lost faith in the system altogether and gradually fell into the arms of tyrants and demagogues.
If all of that sounds familiar, well, that’s because the parallels to our current political moment are striking. Edward Watts, a historian at the University of California San Diego, has just published a new book titled Mortal Republic that carefully lays out what went wrong in ancient Rome — and how the lessons of its decline might help save fledgling republics like the United States today.

I spoke to Watts about those lessons and why he thinks the American republic, along with several others, are in danger of going the way of ancient Rome. A lightly edited transcript of our conversation follows.
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What America can learn from the fall of the Roman republicSean Illing interviews Edward Watt, author of Mortal Republic 
Mike Norman
Mike Norman is an economist and veteran trader whose career has spanned over 30 years on Wall Street. He is a former member and trader on the CME, NYMEX, COMEX and NYFE and he managed money for one of the largest hedge funds and ran a prop trading desk for Credit Suisse.

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