INDUSTRY STRUCTURE AND INCOME OPPORTUNITIES 165
44 See Randall 1953.
45 The most noted examples of asset turn advantages are steel mini mills (new recycling tech-
nology) and retailing (inventory management systems). For the prices of slaves in Athens, see
Scheidel 2005.
46 As a definitional matter, in the absence of formal restrictions on the number of people who
could qualify to conduct a craft, the need for apprenticeship cannot be considered a barrier
to entry, as there is no limit to the number of people who – in theory at least – could under-
take the apprenticeship and enter the business. In some cases, the degree of skill required
might be so high that few can succeed and this can result in excellent returns for the accom-
plished practitioners and poor ones for the less competent, but this is better considered as a
differentiator among competitors than as a restriction on entry.
47 This framework is adapted from Stern in Stern and Stalk 1998 : 56–9. In the diagram, circle
size indicates firm size and slope represents the correlation between competitive advantage
(x axis) and profitability.
48 Jones, Sackett and Graham 1962 : 88; Rotroff 1997 : 72–7.
49 On the tasks – namely clay preparation, wheel turning, forming, materials handling
and furnace management – see Richter 1923 : 4–20; Noble 1965 : chapter 4; Clark
1994 : 128–63.
50 The analysis was conducted by physical modelling, since there is no mathematical formula
for ‘circle-packing.’ Measurements were taken from a sample in the Classics and Archaeology
section of the Ian Potter Museum at the University of Melbourne.
51 Note that some potteries supplying transport vessels might have been able to strike
long-term contracts with merchant customers – see Johnston 1979 : 52. There might have
been multi-furnace potteries in this segment, just as there were in Roman times when there
was a large and stable export demand for terra sigillata, but there is no clear evidence for such
potteries in Classical Athens.
52 Finley 1954 : 78; Matyszak 2008 : 25.
53 Carr 2000 : 163–6.
54 Olynthus: Cahill 2002 : 246–52; Bau Z: Tsakirgis, Chapter 7 in this volume.
55 See Emrich 1985 ; Olson 1991.
56 See Davidson 1997 : 42–6, 53; Harris 2002a: 88–97.
57 See Forbes 1964 –72, VIII: 55–67; Snodgrass 1980 : 128, 214.
58 See Burford 1972 : plate 3.
59 See Stewart 1990 : 22–6.
60 On mining, see the remarks of Christesen 2003.
61 Sokolowski 1962 : 19; Billot 1992 : 119–56.
62 The likely output of such a number of slaves would have accounted for a large part of any
reasonable estimate of demand.
63 This included 80 mnai worth of ivory, iron and wood, plus 70 mnai worth of copper and
gall (Dem. 27.10), i.e., over two talents’ worth of raw materials.
64 Note, though, that only citizens could own land. Metics would have to rent their premises
unless given special permission to own land and buildings by the Athenian demos.