The economy of both Greece and Rome was based on agriculture. Greeks ideally lived on small self-sufficient
wheat-producing farms, but bad agricultural practices made many households incapable of feeding themselves. Big estates took over, producing wine and
olive oil, which were also the chief exports of the Romans. The Romans, who imported their wheat and annexed
provinces that could provide them with this all-important staple, also farmed, but they also engaged in trade. It is thought that the Greeks considered such occupations degrading. In the cities,
manufacturing went on. Both Greece and Rome worked mines. While Greece also had slaves, the economy of Rome was dependent on slave labor from the
expansion until the
late Empire. Both cultures had
coinage. Rome debased its currency to fund the Empire. [See
Economic Reasons for the Fall of Rome.]