The Economy of Classical Athens: Organization, Institutions and Society

The Athenian economy during the Classical period was developed through the establishment of sophisticated economic institutions, such as property rights protection, legal protection of commercial contracts, prices determined by supply and demand, institutions against profiteering, banking services, consumer credit, insurance companies, and a (primitive) version of joint-stock companies. This book provides an analysis of this transformation and the functioning of the Athenian economy through the approach of New Institutional Economics (NIE). It also focuses on the structure of the public sector, the social welfare policies implemented, and the social status of women, slaves, and foreigners. It investigates whether an Athenian economic-political model of governance can provide lessons for modern societies.

Format: Hardback
Length: 336 pages
Publication date: 06 October 2023
Publisher: Taylor & Francis Ltd

In the vibrant era of classical Athens, alongside the flourishing of democracy, the Athenians crafted a remarkable economic system that propelled them into becoming a maritime and commercially thriving civilization. This captivating book delves into the intricate details of this transformative journey, offering a comprehensive analysis of the Athenian economy during the classical period. Employing the framework of New Institutional Economics (NIE), the author explores the establishment of vital institutions such as property rights protection, the legal safeguards, and enforcement of commercial contracts, the determination of prices by the interplay of supply and demand, measures against profiteering, the provision of banking services, the offering of loans with interest rates, consumer credit, insurance companies, and a rudimentary form of joint-stock companies. Furthermore, the book delves into the structure of the public sector, the process of determining the state budget, and the decision-making processes regarding public revenues and expenditures. It provides a holistic and detailed examination of the social welfare policies implemented through the provision of various public goods in classical Athens. Moreover, the book sheds light on various socio-economic aspects, including the social status of women, slaves, and foreigners, as well as the perspectives of renowned Athenian philosophers on economic organization. Finally, the book embarks on an insightful exploration, seeking to uncover whether the Athenian economic-political model, characterized by a blend of advanced economic institutions and direct democratic principles, holds any valuable lessons for modern societies. This captivating work will captivate readers with an interest in the economy, history, and society of ancient Greece, as well as economic historians, ancient historians, and scholars of governance and political philosophy.

Weight: 830g
Dimension: 234 x 156 (mm)
ISBN-13: 9781032561547