Science, Space and Technology News 2024
A study reveals the Viking Age’s nuanced economic system through the Forsa Ring, indicating fines could be paid in oxen or silver, reflecting a complex economic integration with contemporary Europe.
By changing the translation of the word “auk” from the previous interpretation “and” to the new interpretation “also,” the meaning changes so that fines could be paid either with an ox or with two ore of silver. An ore was equivalent to about 25 grams of silver. Rodney Edvinsson, Professor of Economic History at Stockholm University. Credit: Ingmarie Andersson/Stockholm University
He has previously contributed to developing a historical consumer price index extending back to the 13th century, but this new interpretation provides insights into price levels even earlier in history.
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