Economy

Economy

The economy during the Han dynasty was defined by population growth, growth of industries as well as trade and nationalization. New inventions and the bloom of art also contributed to the increase in trading during that period. During the beginning of the Han dynasty, the economy was badly damaged due to the policies of the former dynasty. Emperors of the Han dynasty abated this by abolishing Qin dynasty’s suppressive policies and lowering the taxes imposed on peasants and merchants. But perhaps the greatest contributor, to the Han dynasty economy’s affluence was the silk trade and the opening up of the Silk Road. The invention of the loom enabled silk to be produced and traded to the western people through the Silk Road. Silk was even used as a currency and a tribute to the nomads of the northwestern steppe. During the later parts of the Han era however, economic and political crises began to plague the dynasty and the government became heavily decentralized eventually leading to the fall of the Han economy.


Works Cited:

Ancient Money. 1998. Photograph. KidipedeWeb. 7 Oct 2012. <http://www.historyforkids.org/learn/economy/money.htm>.