Athenian Economy And Society

In this ground-breaking analysis of the world's first private banks, Edward Cohen convincingly demonstrates the existence and functioning of a market economy in ancient Athens while revising our understanding of the society itself. Challenging the "primitivistic" view, in which bankers are merely pawnbrokers and money-changers, Cohen reveals that fourth-century Athenian bankers pursued sophisticated transactions. These dealings--although technologically far removed from modern procedures--were in financial essence identical with the lending and deposit-taking that separate true "banks" from other businesses. He further explores how the Athenian banks facilitated tax and creditor avoidance among the wealthy, and how women and slaves played important roles in these family businesses--thereby gaining legal rights entirely unexpected in a society supposedly dominated by an elite of male citizens. Special emphasis is placed on the reflection of Athenian cognitive patterns in financial practices. Cohen shows how transactions were affected by the complementary opposites embedded in the very structure of Athenian language and thought. In turn, his analysis offers great insight into daily Athenian reality and cultural organization.

In parallel to the development of democracy, the Athenians of the Classical period established a series of sophisticated economic institutions for the time through which they developed a maritime and commercially oriented economy. This book provides a thorough analysis of this transformation and the functioning of the Athenian economy during the Classical period. Through the approach of New Institutional Economics (NIE), the book explores the establishment of key institutions including property rights protection, the legal protection of commercial contracts, prices determined by the forces of supply and demand, institutions against profiteering, banking services, the provision of loans through interest rates, consumer credit, insurance companies and a (primitive) version of joint-stock companies. Furthermore, the book focuses on the structure of the public sector, on how the state budget was determined and on how decisions on public revenues and expenditures were made. It also provides an integrated and detailed analysis of the social welfare policies that were implemented through the provision of a variety of public goods in Classical Athens. Moreover, it focuses on a series of socio-economic aspects such as the social status of women, slaves and foreigners and the viewpoints of prominent Athenian philosophers regarding economic organization. Finally, the book investigates whether an Athenian economic-political model of governance, based on a combination of advanced economic institutions (of free market type logic, even if in a primordial form) and direct democracy principles, can provide any lessons for modern societies. The book will be of great interest to readers of the economy, history and society of Ancient Greece as well as economic historians, ancient historians and policymakers more broadly.

A new assessment of the ancient Athenian economy relying on fresh documentary evidence

Challenging the modern assumption that ancient Athens is best understood as a polis, Edward Cohen boldly recasts our understanding of Athenian political and social life. Cohen demonstrates that ancient sources referred to Athens not only as a polis, but also as a "nation" (ethnos), and that Athens did encompass the characteristics now used to identify a "nation." He argues that in Athens economic, religious, sexual, and social dimensions were no less significant than political and juridical considerations, and accordingly rejects prevailing scholarship's equation of Athens with its male citizen body. In fact, Cohen shows that the categories of "citizen" and "noncitizen" were much more fluid than is often assumed, and that some noncitizens exercised considerable power. He explores such subjects as the economic importance of businesswomen and wealthy slaves; the authority exercised by enslaved public functionaries; the practical egalitarianism of erotic relations and the broad and meaningful protections against sexual abuse of both free persons and slaves, and especially of children; the wide involvement of all sectors of the population in significant religious and local activities. All this emerges from the use of fresh legal, economic, and archaeological evidence and analysis that reveal the social complexity of Athens, and the demographic and geographic factors giving rise to personal anonymity and limiting personal contacts--leading to the creation of an "imagined community" with a mutually conceptualized identity, a unified economy, and national "myths" set in historical fabrication.

Eerder, in de jaren 1953 tot '81, verschenen artikelen

First Published in 2005. Routledge is an imprint of Taylor & Francis, an informa company.

In The Political Economy of Classical Athens – a Naval Perspective, Barry O’Halloran offers an account of the economic history of classical Athens in which its strategy of naval conquest provided the foundations for a period of unprecedented economic efflorescence.