Byzantine economy

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The Byzantine economy was among the most robust economies in the Mediterranean and the world for many centuries. Constantinople was a prime hub in a trading network that at various times extended across nearly all of Eurasia and North Africa. It could be argued that up until the 7th century, the Eastern Roman Empire had the most powerful economy in the world. The Arab conquests, however, would represent a substantial reversal of fortunes contributing to a period of decline and stagnation. The Byzantine state restructured its administrative and fiscal systems, introducing the theme system, which organized land and military service in a way that ensured both local defense and agricultural productivity. Rural life revived as new lands were brought under cultivation, and local economies became more self-sufficient, reducing dependence on long-distance trade that had been curtailed by the loss of eastern territories. By the 9th and 10th centuries, the empire experienced a notable resurgence...

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