The economic history of the Greek world spans several millennia and encompasses many modern-day nation states.
Since the focal point of the center of the Greek world often changed it is necessary to enlarge upon all these areas as relevant to the time. The economic history of Greece refers to the economic history of the Greek nation state since 1829.
Earliest Greek civilizations Cycladic civilization Cycladic civilization is the earliest trading center of goods. It was extensively distributed throughout the Aegean region.
Minoan civilization The Minoan civilization emerged on Crete around the time of the early Bronze Age, it had a wide range of economic interests and was something of a trade hub, exporting many items to mainland Greece as well as the Egyptian Empire of the period. The Minoans were also innovators, developing (or adopting) a system of lead weights to facilitate economic transactions. Despite this Minoan civilization remained, for the most part, an agriculturally driven one.
Pigs and artists were an important part of the Minoan economy as they produced many goods that were valued in the trade as well as within Crete itself. The Linear B tablets often refer to men or to their work, although, there were also female artisans, who mainly worked in the textile industry. We also know from archaeological evidence that Minoan artisans practiced a large range of craftsmanship jobs including scribes, potters, metalworkers, leather workers, glass and faience artists, painters, sculptors, engravers, and jewelers. Due to only a small amount of evidence about occupation, we do not know whether a worker might have mastered several trades, or fully specialized in one profession. There was an area set aside for artisans and their workshops in every palace, and in a town like Malia, they had both workshops in town and in the palace.
The production of oil was an important activity in which Minoan artisans were engaged. There were a large number of oil jars found in the destroyed palaces that tell us of the importance of this industry everywhere in the world. Oil was an extremely important part of the perfume industry as it was used to clean dirt from the body, much like soap does today. Perfumes were also sprinkled on clothing, for aesthetic reasons. It is certain that perfumes were a luxury item of the Minoan trade.
The bronze industries were also an important aspect of the Minoan economy and the art of bronze making was very common, suggested by the fact that evidence of bronze making was discovered in many towns, such as Phaistos and Zakro, but also as evidence in the area of Malia show that bronze making operations were flourishing in many of the palaces. It is believed that the Minoans imported tin and copper to make bronze ingots for other people. Evidence of this is shown in Egyptian tomb paintings where the Keftyw (people believed to be the Minoans) bring said ingots to the Egyptian king in gift exchange (The Egyptians and Minoans had a history of cultural exchange). Other objects made from bronze have been found in numbers at Knossos, these include bronze mirrors, labrys, votive figures, knives, cleavers, and small bronze tools.
The stone carving industry produced many vases and lamps, examples of which have been found at palaces and palatial villas throughout Minoan Crete. Another industry that contributed to the Minoan economy was the wine industry, which is mentioned in Linear A, but the small amounts referred to suggest it was a commodity reserved for the wealthier class.
Mycenaean civilization
The Mycenaean civilization emerged during the late Bronze Age, supplanting the Minoans as the dominant economic force in the area. The Mycenaean economy itself was based on agriculture. The tablets from both Pylos and Knossos demonstrate that there were two major food-grains produced; wheat and barley.
Agriculture was highly organised and this becomes apparent by the written records of deliveries of land produce, taxes in kind due to the palace, a hare set aside for the gods and so forth. The land used for agriculture was basically of two types, represented by the terms ko-to-na (ktoina) ki-ti-me-na and ko-to-na ke-ke-me-na. The former refers to the privately owned land, the latter to the public one (owned by the damos). Cereals were used as the basis of the rations’ system both at Knossos and Pylos. At Knossos, for example, the rations are quoted for a work-group composed of 18 men and 8 boys as 97.5 units of barley.
Apart from cereals, the Mycenaeans also produced wine, olive oil, oil from various spices and figs. As far as wine is concerned, it does not figure in the ordinary ration lists and may have been something of a luxury or possibly for export. Mycenaean trade was very advanced and there is even evidence of an amber trade from Britain.
Metals were also a very important part of the Mycenaean economy, during the Mycenaean period there were five metals in use: gold, silver, copper, tin and lead. Iron was not unknown but was very rare. Therefore, bronze was the main metal for the making of tools and weapons. Although bronze was the most important metal for the Mycenaeans, it was relatively scarce and expensive. Our knowledge of the Mycenaean bronze industry comes entirely from Pylos where we have some information about smiths. Most of the tablets concerning bronze demonstrate a very tight control of the metal industry by the palace.Mycenaean Society: Structure and Economy, Georganas, I.
Ancient Greece and the emergence of poleis
Greek Dark Ages The Greek Dark Ages were a period of economic stagnation for the Greeks after the destruction of the complex Mycenaean economic system, the loss of the widespread written script Linear B meant that development was effectively stunted and living standards deteriorated. Basic trading patterns remained however.
City-states The emergence of the poleis as the model for ideal governance following the end of the Greek Dark Ages heavily influenced the economy of the Greeks at the time. This period, of the 8th century BCE to the 4th century BCE is conventionally termed as 'Ancient Greece'. The main issues concerning the ancient Greek economy are related to the household (oikos) organization, the cities’ legislation and the first economic institutions, the invention of coinage and the degree of monetization of the Greek economy, the trade and its crucial role in the characterization of the economy (modernism vs. primitivism), the invention of banking and the role of slavery in the production.
Athens
Athens emerged as the dominant economic power in Greece around the late 6th century BCE, this was further bolstered by the finding of several veins of silver in the neighbouring mountains which further added to their wealth. They facilitated an efficient trading system with other Greek city states. Again, pots and other forms of cooking utensils seem to have been the most quantitatively traded product (over 80,000 amphorae and other such things have been recovered from around Athens in archaeological digs). Marble and bronze artwork also seems to have been traded (though it was largely a luxury product, and this trade only really exploded after the rise of the Roman Republic, as Greek Art exerted a massive influence on Roman Culture on all levels). Athens began to import grain due to poor soil conditions however.
The agricultural conditions which caused Athens to import grain began to create political turmoil around 600 BCE It is believed that tenant farmers were paying rent equivalent to a sixth of their production, hence they were known as "sixth-parters." Those who could not pay their rent could be sold by the landlord into slavery. In 594 Solon (one of the great reformers of Athens) would order the cancellation of debt and the freeing of those sold into slavery, a proclamation known as the "Seisachtheia." While Solon's proclamation was a bold move, it could not really solve the problem of meager agricultural output and competition between workers for jobs. Debt and slavery, while problems in themselves, were also symptomatic of underlying agricultural problems.Pericles Press online, Athenian Economy
From an economic perspective, poor soil was only one problem Athens had to deal with. There are indications that unemployment was a substantial and on-going problem for much of Athens' history. Solon's reforms encouraged economic diversity and trade. If more people began to leave agriculture, there are indications that Athens had problems keeping them employed. Even if they found work, there are indications that many were not fully benefiting from Athens' economy.
Island republic of Rhodes The economy of Rhodes throughout the Ancient period was largely based on shipping (owing to its geographical position near to Asia Minor), it had one of the finest harbours in the Mediterranean and built up a booming economy based upon trade throughout this area, even into Roman times, until the Romans took a prize possession of Rhodes (Delos) and turned it into a free port, thus taking most of their trade - from this point onwards, the Rhodian economy shrivelled. In its prime, Rhodes was however, due to its status as a prize port, a frequent target of piracy and for this reason the Rhodian Government of the time set up a swift and efficient fleet of fast pirate chasing vessels to combat this.
Hellenistic Age The Hellenistic Age was a major turning point both in Greek economic history and Roman economic history, it opened the way for trade with the East, new agricultural techniques were developed and the spread of a relatively uniform currency throughout the near East began.
Macedonia The Ancient Greek state of Macedonia rose to prominence in the Greek mainland with the reign of Philip II.
Alexander and the successors Alexander the Great, hoping to strike revenge at the Persian Empire for their past attacks in Greece drove a path Eastwards across the Persian Empire, eventually defeating it and opening the way for trade with India, China and other civilizations. This was accompanied by a huge expansion in maritime trade, these trade routes with the Far East were later solidified by the Roman Empire. One of the outcomes was the expenditure of bullion that had been hoarded for two centuries by the successors of Cyrus the Great in the efforts to conquer additional territories, create civic foundations, and expand governmental services; L. Sprague deCamp posits this created a period of substantial inflation affecting the eastern Mediterranean and Middle East for several decades.An Elephant for Aristotle, 1958, Doubleday,