Economy of ancient Greece - wikipedia Economy of ancient Greece This article needs additional citations for verification. Please help improve this article by adding citations to reliable sources. Unsourced material may be challenged and removed. ( October 2017 ) Men weighing merchandise, side B of an Attic black - figure amphora The economy of ancient Greece was defined largely by the region 's dependence on imported goods. As a result of the poor quality of Greece 's soil, agricultural trade was of particular importance. The impact of limited crop production was somewhat offset by Greece 's paramount location, as its position in the Mediterranean gave its provinces control over some of Egypt 's most crucial seaports and trade routes. Beginning in the 6th century BC, trade craftsmanship and commerce, principally maritime, became pivotal aspects of Greek economic output. Greece lacked a consolidated, centralized economy in the modern sense of the word. There was a relative absence of contemporary phrases to describe overarching systems of commerce and trade organization, and economics was primarily understood in terms of the localized management of necessary goods. However, economist Murray Rothbard notes that ancient Greek philosophers were concerned with questions that would today fall under the discipline of economic theory. Contents 1 Agriculture 2 Crafts 2.1 Pottery 2.2 Metalworking 2.3 Maritime commerce 3 Trade 3.1 Retail 4 Taxation 5 Currency 6 Shopping 7 See also 8 Notes 9 Bibliography 10 Further reading Agriculture Main article : Agriculture in ancient Greece Greek soil has been likened to `` stinginess '' or `` tightness '' ( Ancient Greek : stenokhôría, στενοχωρία ) explains Greek colonialism and the importance of the cleruchies of Asia Minor in controlling the supply of wheat. The olive tree and grapevine were complemented by the cultivation of herbs, vegetables, and oil - producing plants. Husbandry was badly developed due to a lack of available land. Sheep and goats were the most common types of livestock. Woods were heavily exploited, first for domestic use and eventually to build triremes. Bees were kept to produce honey, the only source of sugar known to the ancient Greeks. Since it was so labor - intensive, up to 80 % of the Greek population were employed in the agricultural industry. Agricultural work followed the rhythm of the seasons : harvesting olives and trimming grapevines at the beginning of autumn and the end of winter ; setting aside fallow land in the spring ; harvesting cereals in the summer ; cutting wood, sowing seeds, and harvesting grapes in autumn. In the ancient era, most land was held by the aristocracy. During the 7th century BC, demographic expansion and the distribution of successions created tensions between these landowners and the peasants. In Athens, this was changed by Solon 's reforms, which eliminated debt bondage and protected the peasant class. Nonetheless, a Greek aristocrat 's domains remained small compared with the Roman latifundia. The Greeks would also have animals like cows, goats and chickens. Crafts Woman working with wool, 480 - 470 BC, National Archaeological Museum of Athens Much of the craftsmanship of ancient Greece was part of the domestic sphere. However, the situation gradually changed between the 8th and 4th centuries BC, with the increased commercialization of the Greek economy. Thus, weaving and baking, activities so important to the Western late medieval economy, were done only by women before the 6th century BC. After the growth of commerce, slaves started to be used widely in workshops. Only fine dyed tissues, like those made with Tyrian purple, were created in workshops. On the other hand, working with metal, leather, wood, or clay was a specialized activity that was looked down upon by most Greeks. The basic workshop was often family - operated. Lysias 's shield manufacture employed 120 slaves ; Demosthenes ' father, a maker of swords, used 32. After the death of Pericles in 429 BC, a new class emerged : that of the wealthy owners and managers of workshops. Examples include Cleon and Anytus, noted tannery owners, and Kleophon, whose factory produced lyres. Non-slave workers were paid by assignment, since the workshops could not guarantee regular work. In Athens, those who worked on state projects were paid one drachma per day, no matter what craft they practiced. The workday generally began at sunrise and ended in the afternoon. Pottery Main article : Pottery of ancient Greece The potter 's work consisted of selecting the clay, fashioning the vase, drying and painting and baking it, and applying varnish. Part of the production went to domestic usage ( dishes, containers, oil lamps ) or for commercial purposes, and the rest served religious or artistic functions. Techniques for working with clay have been known since the Bronze Age ; the potter 's wheel is a very ancient invention. The ancient Greeks did not add any innovations to these processes. The creation of artistically decorated vases in Greece had strong foreign influences. For instance, the famed black - figure style of Corinthian potters was most likely derived from the Syrian style of metalworking. The heights to which the Greeks brought the art of ceramics is therefore due entirely to their artistic sensibilities and not to technical ingenuity. Pottery in ancient Greece was most often the work of slaves. Many of the potters of Athens assembled between the agora and the Dipylon, in the Kerameikon. They most often operated as small workshops, consisting of a master, several paid artisans, and slaves. Metalworking Deposits of metal ore are common in Greece. Of these, the best known are the silver mines of Laurium. These mines contributed to the development of Athens in the 5th century BC, when the Athenians learned to prospect, treat, and refine the ore. Fortuitously, the composition of the earth below the mines rendered drainage unnecessary, an important provision given that ancient mine drainage techniques did not allow for excavation below the level of subsoil waters. The passageways and steps of Greek mines were dug out with the same concern for proportion and harmony found in their temples. The work was extremely difficult, due to the tunnels ' depth -- they were sometimes more than 100 metres ( 110 yd ) deep. The miner, armed with his pick and iron hammer and hunched over in two, labored to extract lead ore. The Laurium mines were worked by a large slave population, originating for the most part from Black Sea regions such as Thrace and Paphlagonia. Weapons, armor tools, and a variety of other goods were created with these metals. Other Greek mines include : Gold : Sifnos, Thasos Silver : Cyprus, Sifnos Iron : Euboea, Rhodes Copper : Chalcis, Euboea, and Cyprus Maritime commerce The main participants in Greek commerce were the class of traders known as emporoi ( ἕμποροι ). The state collected a duty on their cargo. At Piraeus ( the main port of Athens ), this tax was set initially at 1 %, then at 2 %. By the end of the 5th century, the tax had been raised to 33 talents ( Andocides, I, 133 - 134 ). In 413, Athens ended the collection of tribute from the Delian League and imposed a 5 % duty on all the ports of her empire ( Thucydides, VII, 28, 4 ) in the hope ( unrealized ) of increasing revenues. These duties were never protectionist, but were merely intended to raise money for the public treasury. The growth of trade in Greece led to the development of financial techniques. Most merchants, lacking sufficient cash assets, resorted to borrowing to finance all or part of their expeditions. A typical loan for a large venture in 4th century BC Athens, was generally a large sum of cash ( usually less than 2,000 drachmas ), lent for a short time ( the length of the voyage, a matter of several weeks or months ), at a high rate of interest ( often 12 % but reaching levels as high as 100 % ). The terms of the contract were always laid out in writing, differing from loans between friends ( eranoi ). The lender bore all the risks of the journey, in exchange for which the borrower committed his cargo and his entire fleet, which were precautionarily seized upon their arrival at the port of Piraeus. Trade in ancient Greece was free : the state controlled only the supply of grain. In Athens, following the first meeting of the new Prytaneis, trade regulations were reviewed, with a specialized committee overseeing the trade in wheat, flour, and bread. The number of shipwrecks found in the Mediterranean Sea provides valuable evidence of the development of trade in the ancient world. Only two shipwrecks were found that dated from the 8th century BC. However, archeologists have found forty - six shipwrecks dated from the 4th century BC, which would appear to indicate that there occurred a very large increase in the volume of trade between these centuries. Considering that the average ship tonnage also increased in the same period, the total volume of trade increased probably by a factor of 30. Trade Greece 's main exports were olive oil, wine, pottery, and metalwork. Imports included grains and pork from Sicily, Arabia, Egypt, Carthage. Retail While peasants and artisans often sold their own wares, there were also retail merchants known as kápêloi ( κάπηλοι ). Grouped into guilds, they sold fish, olive oil, and vegetables. Women sold perfume or ribbons. Merchants were required to pay a fee for their space in the marketplace. They were viewed poorly by the general population, and Aristotle labeled their activities as : `` a kind of exchange which is justly censured, for it is unnatural, and a mode by which men gain from one another. '' Parallel to the `` professional '' merchants were those who sold the surplus of their household production such as vegetables, olive oil, or bread. This was the case for many of the small - scale farmers of Attica. Among townsfolk, this task often fell to the women. for the prfect For instance, Euripides ' mother sold chervil from her garden ( cf. Aristophanes, The Acharnians, v. 477 - 478 ). Taxation Direct taxation was not well - developed in ancient Greece. The eisphorá ( εἰσφορά ) was a tax on the wealth of the very rich, but it was levied only when needed -- usually in times of war. Large fortunes were also subject to liturgies which was the support of public works. Liturgies could consist of, for instance, the maintenance of a trireme, a chorus during a theatre festival, or a gymnasium. In some cases, the prestige of the undertaking could attract volunteers ( analogous in modern terminology to endowment, sponsorship, or donation ). Such was the case for the choragus, who organized and financed choruses for a drama festival. In other instances, like the burden of outfitting and commanding a trireme, the liturgy functioned more like a mandatory donation ( what we would today call a one - time tax ). In some cities, like Miletus and Teos, heavy taxation was imposed on citizens. On the other hand, indirect taxes were quite important. Taxes were levied on houses, slaves, herds and flocks, wines, and hay, among other things. The right to collect many of these taxes was often transferred to publicans, or telônai ( τελῶναι ). However, this was not true of all cities. Thasos ' gold mines and Athens ' taxes on business allowed them to eliminate these indirect taxes. Dependent groups such as the Penestae of Thessaly and the Helots of Sparta were taxed by the city - states to which they were subject. Currency Athenian coin, Athenian Agora Museum Coinage probably began in Lydia around 600 BC, and circulated in the cities of Asia Minor under its control. Early electrum coins have been found at the Temple of Diana at Ephesus. The technique of minting coins arrived in mainland Greece around 550 BC, beginning with coastal trading cities like Aegina and Athens. Their use spread, and the city - states quickly secured a monopoly on their creation. The very first coins were made from electrum ( an alloy of gold and silver ), followed by pure silver, the most commonly found valuable metal in the region. The mines of the Pangaeon hills allowed the cities of Thrace and Macedon to mint a large quantity of coins. Laurium 's silver mines provided the raw materials for the `` Athenian owls '', the most famous coins of the ancient Greek world. Less - valuable bronze coins appeared at the end of the 5th century. Coins played several roles in the Greek world. They provided a medium of exchange, mostly used by city - states to hire mercenaries and compensate citizens. They were also a source of revenue as foreigners had to change their money into the local currency at an exchange rate favorable to the State. They served as a mobile form of metal resources, which explains discoveries of Athenian coins with high levels of silver at great distances from their home city. Finally, the minting of coins lent an air of undeniable prestige to any Greek city or city state. Shopping The shopping centers in Ancient Greece were called agoras. The literal meaning of the word is `` gathering place '' or `` assembly ''. The agora was the center of the athletic, artistic, spiritual and political life of the city. The Ancient Agora of Athens was the best - known example. Early in Greek history ( 18th century -- 8th century BC ), free - born citizens would gather in the agora for military duty or to hear statements of the ruling king or council. Every city had its own agora where merchants could sell their products. There was linen from Egypt, Ivory from Africa, Spices from Syria, and more. Prices were rarely fixed, so bargaining was a common practice. See also Agriculture of Ancient Greece Slavery in Ancient Greece Roman economy Economy of Greece Notes Jump up ^ http://eh.net/encyclopedia/the-economy-of-ancient-greece/ Jump up ^ Rothbard, Murray ( 2006 ). `` It all began, as usual, with the Greeks ''. Mises Institute. Retrieved 2006 - 06 - 22. Jump up ^ R.W. Dimand. The Origins of International Economics. Routledge, 2004. ISBN 0 - 415 - 31555 - 7. p. 17. Jump up ^ Oxford Classical Dictionary, `` Coinage '' http://quatr.us/greeks/economy/ Bibliography Scheidel, Walter, Ian Morris, and Richard P. Saller, eds. The Cambridge Economic History of the Greco - Roman World ( 2008 ) 958pp `` Sideris, Athanasios, Principles and Practice in Classical World 's Economy ''. Masaryk University. 2015. Retrieved 2015 - 01 - 20. ( 45 pp., a concise overview for students ) Ancient Greece Outline Timeline History Geography Periods Cycladic civilization Minoan civilization Mycenaean civilization Greek Dark Ages Archaic period Classical Greece Hellenistic Greece Roman Greece Geography Aegean Sea Aeolis Alexandria Antioch Cappadocia Crete Cyprus Doris Ephesus Epirus Hellespont Ionia Ionian Sea Macedonia Magna Graecia Miletus Peloponnesus Pergamon Pontus Taurica Ancient Greek colonies City states Politics Military City states Argos Athens Byzantion Chalcis Corinth Eretria Kerkyra Larissa Megalopolis Megara Rhodes Samos Sparta Syracuse Thebes Politics Boeotarch Boule Koinon Proxeny Strategos Tagus Tyrant Amphictyonic League Athenian Agora Areopagus Ecclesia Graphē paranómōn Heliaia Ostracism Spartan Apella Ephor Gerousia Harmost Macedon Synedrion Koinon Military Wars Athenian military Antigonid Macedonian army Army of Macedon Ballista Cretan archers Hellenistic armies Hippeis Hoplite Hetairoi Macedonian phalanx Phalanx Peltast Pezhetairos Sarissa Sacred Band of Thebes Sciritae Seleucid army Spartan army Toxotai Xiphos Xyston People List of ancient Greeks Rulers Kings of Argos Archons of Athens Kings of Athens Kings of Commagene Diadochi Kings of Lydia Kings of Macedonia Kings of Paionia Attalid kings of Pergamon Kings of Pontus Kings of Sparta Tyrants of Syracuse Philosophers Anaxagoras Anaximander Anaximenes Antisthenes Aristotle Democritus Diogenes of Sinope Empedocles Epicurus Gorgias Heraclitus Hypatia Leucippus Parmenides Plato Protagoras Pythagoras Socrates Thales Zeno Authors Aeschylus Aesop Alcaeus Archilochus Aristophanes Bacchylides Euripides Herodotus Hesiod Hipponax Homer Ibycus Lucian Menander Mimnermus Panyassis Philocles Pindar Plutarch Polybius Sappho Simonides Sophocles Stesichorus Theognis Thucydides Timocreon Tyrtaeus Xenophon Others Agesilaus II Agis II Alcibiades Alexander the Great Aratus Archimedes Aspasia Demosthenes Epaminondas Euclid Hipparchus Hippocrates Leonidas Lycurgus Lysander Milo of Croton Miltiades Pausanias Pericles Philip of Macedon Philopoemen Praxiteles Ptolemy Pyrrhus Solon Themistocles Groups Philosophers Playwrights Poets Tyrants By culture Ancient Greek tribes Thracian Greeks Ancient Macedonians Society Culture Society Agriculture Calendar Clothing Coinage Cuisine Economy Education Festivals Funeral and burial practices Homosexuality Law Olympic Games Pederasty Philosophy Prostitution Religion Slavery Warfare Wedding customs Wine Arts and science Architecture Greek Revival architecture Astronomy Literature Mathematics Medicine Music Musical system Pottery Sculpture Technology Theatre Religion Funeral and burial practices Mythology mythological figures Temple Twelve Olympians Underworld Sacred places Eleusis Delphi Delos Dodona Mount Olympus Olympia Structures Athenian Treasury Lion Gate Long Walls Philippeion Theatre of Dionysus Tunnel of Eupalinos Temples Aphaea Artemis Athena Nike Erechtheion Hephaestus Hera, Olympia Parthenon Samothrace Zeus, Olympia Language Proto - Greek Mycenaean Homeric Dialects Aeolic Arcadocypriot Attic Doric Ionic Locrian Macedonian Pamphylian Koine Writing Linear A Linear B Cypriot syllabary Greek alphabet Greek numerals Attic numerals Lists Cities in Epirus People Place names Stoae Temples Theatres Portal Library resources about Economy of ancient Greece Online books Resources in your library Resources in other libraries Further reading Bresson, Alain. The Making of the Ancient Greek Economy : Institutions, Markets, and Growth In the City - States. Expanded and updated English edition. Translated by Steven Rendall. Princeton : Princeton University Press, 2015. Donlan, Walter. `` The Homeric economy. '' In A new companion to Homer, edited by Ian Morris and Barry B. Powell, 649 - 67. New York : E.J. Brill, 1997. Finley, Moses I. The ancient economy. 2d ed. Sather Classical Lectures 48. Berkeley : Univ. of California Press, 1985. Foraboschi, Daniele. `` The Hellenistic economy : indirect intervention by the state. '' In Production and Public Powers In Classical Antiquity, edited by Elio Lo Cascio and Dominic Rathbone, 37 - 43. Cambridge : Cambridge Philological Society, 2000. Meikle, Scott. Aristotle 's economic thought. Oxford : Clarendon, 1995. Migeotte, Léopold. The economy of the Greek cities : From the Archaic period to the early Roman Empire. Berkeley : Univ. of California Press, 2009. Morris, Ian. `` The Athenian economy twenty years after The ancient economy. '' Classical Philology 89, no. 4 ( 1994 ) : 351 -- 66. Pomeroy, Sarah B. Xenophon 's Oeconomicus : A social and historical commentary. Oxford : Clarendon, 1994. Scheidel, Walter, Ian Morris, and Richard Saller, eds. The Cambridge economic history of the Greco - Roman world. Cambridge, UK : Cambridge Univ. Press, 2007. Scheidel, Walter, and Sitta von Reden. The Ancient Economy. Hoboken : Taylor and Francis, 2012. Retrieved from `` https://en.wikipedia.org/w/index.php?title=Economy_of_ancient_Greece&oldid=831472706 '' Categories : Economy of ancient Greece Economic history of Greece Hidden categories : Articles needing additional references from October 2017 All articles needing additional references Articles containing Ancient Greek - language text All articles with unsourced statements Articles with unsourced statements from April 2016 Talk Contents About Wikipedia Català Español Français Galego עברית Norsk தமிழ் Türkçe 中文 Edit links This page was last edited on 20 March 2018, at 19 : 38. Text is available under the Creative Commons Attribution - ShareAlike License ; additional terms may apply. By using this site, you agree to the Terms of Use and Privacy Policy. Wikipedia ® is a registered trademark of the Wikimedia Foundation, Inc., a non-profit organization. About Wikipedia

Question: what part did the mediterranean sea play in greek economy
Answer: gave its provinces control over some of Egypt's most crucial seaports and trade routes