Political Economy In Ancient Greece

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Hello in this paper Im going to define, discuss Political Economy in Ancient Greece. Politcal Economy is the earlier name for economics , the Ancient Greeks came up with the name but in the late 19th Century economists decided economics is a better shorter name. The economy in Ancient Greeks were based on Agriculture,Crafts, Trade, Taxation and Currency . Agriculture was imporant to the Ancient Greeks because it employed up to 80% of the Greek population. Agriculture consisted of olive trees, grapevines, herbs, vegetables, and oil producing plants . Goats and sheeps were the most common form of livestock, they also kept bees to produce honey. Crafts were also a big part of the Ancient Greeks economy much of the craftsman were poor and thats …show more content…

Trade was also a big figure in the Ancient Greek 's economy Greeks main exports were pottery, wine, metalwork and olive oil. They trade with other people from Sicily,Ethopia, Cathage, Arabia and Egypt. Women often sold perfume and ribbons in the market place. Honestly I think Trade was the biggest economic increase, the reason I say that is bcause the Greeks traded stuff they did not need for things they did need to survive and grow, without that I believe they would of died and would not of lasted. Direct Taxiation was a tax on the wealthy or very rich, they got lucky though its not like todays taxes. The rich only got taxed when needed usually when there was a war going on. Indirect taxes was a differnet story they were taxes that were levied on houses, slaves, herds, flocks, wines, hay and anything else they could see potential in. Currency was one of last things that made up the Economy , early currency was made up of an alloy of gold and silver. Later on they started making coins out of pure silver they got all the pure silver from the mines of Pangaeon hills. They were …show more content…

Part2 My example of Political Economy in the text book is on pg 169 in 'The STRUCTURE OF ARCHAIC STATES '. “The Archaic Greeks were relatively weak as a social class , so were the institutions of the states they controlled.” Pg169. They didnt have modern government agenicies to control finances so they used Oligarchs and Tyrants to take responsibility to pay for war and religion. The Oligarchs and Tyrants were more worried about war and religion allowances than making and saving money for infrastructures such as roads, bridges, and buildings, things that would allow more people to want to come and actually to be apart of there society and help boost the economy. They spent more money on religion than they did war. They spent more on an big stone temple than they did a whole hoplite war. They would also have huge festivals that had beef which many of the citizens only ate then because it was a speciality back then , That festival also cost more than war each year. The Greek did do good in the economy by minting coins, but most of there revenue came from inports and exports and traders paying fees to use harbors and markets. The Arachaic Greece were

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