Trade means wealth: Antiquity edition

In this piece titled "Trade means wealth: Antiquity edition," the focus is on a fascinating study by economists Johannes Boehm and Thomas Chaney. These experts analyzed the spread of coins at the end of antiquity and the beginning of the Middle Ages to map out changing trade routes and their influence on wealth distribution across Europe.

The transition from the Roman Empire to the Byzantine Empire, which shifted its economic center to Byzantium around the third century CE and further after the Visigoths sacked Rome in 410 CE, led to a decline in economic prosperity across Northern and Western Europe. This decline was experienced under the rule of various Germanic tribes.

The Arab conquests initiated in the seventh century marked a significant turning point. The confrontations between the Muslim world and the Byzantine Empire led to the Arabs taking control of North Africa and large portions of Spain by the early 700s. Throughout this era, European and Middle Eastern mints continued to produce coins that were then transported across the continent by traders. By studying these coins, Boehm and Chaney were able to reconstruct the trade routes of their time.

The maps produced by Boehm and Chaney illustrate the transformation of trade routes from late antiquity (450-630 CE) to the period after the Arab conquests (713-900 CE). A notable shift is observed in the Byzantine Empire's economic isolation as a demarcation line emerged between the Christian and Muslim worlds, thereby reducing trade connections.

Conversely, trade links to present-day France and Germany flourished through the Muslim trade routes in North Africa and eventually into Spain. The overall analysis demonstrates that trade played a pivotal role in shaping wealth distribution across Europe during this transformative period.