The Ancient Greek Economy. Markets, Households and City-States

INTRODUCTION 15

kinds of coins for local markets and long-distance markets. Bronze coins and

silver coins in smaller denominations were suitable for local exchange while

larger denominations of silver coins and gold coins were more appropriate for

long-distance trade. This essay illustrates the key role of the state in promoting

the growth of markets, another key theme in New Institutional Economics.

Cristina Carusi’s contribution combines a careful study of textual evidence

with the findings of archaeology in order to chart the trade in salt. Although

most regions had access to local supplies of salt, some did not, and were forced

to import this vital commodity. But one of the most useful qualities of salt is

its ability to preserve foodstuffs. Fish might spoil quickly, but when preserved

in salt, their longevity – and value as a commodity in long-distance trade – was

greatly enhanced. This method of preservation enabled markets like that of

Athens to be linked into trade networks moving preserved fish (tarichos) from

the Black Sea and Hellespont in the north to Cadiz in the West.

Some commodities, however, have not left an archaeological footprint, and

we must turn to textual sources in order to chart their production and move-

ment. In his contribution to this volume Peter van Alfen mines both Greek

and Semitic sources to produce a list of commodities traded from the Persian

Empire to the Aegean, showing both the range of goods in long-distance

trade as well as documenting their consumers, who were not  – as the tra-

ditional view holds  – merely members of a wealthy elite with a taste for

ostentation. Goods from the east were consumed by Athenians at all levels of

society, albeit to differing degrees. David Lewis’ contribution provides a case

study in one important commodity exported from the east: slaves. His chap-

ter shows that an organized system of supply reaching into Persian-controlled

Anatolia, paired with low transport costs, enabled slave systems such as that

of the Athenians to flourish, providing access to a plentiful supply of cheap

labour, so much so that most Athenian citizens could afford to buy a slave.

In this case, the expansion of markets helped to lower prices. J.K. Davies

also takes the trade in a single commodity  – incense  – as a case study in

Chapter 13. He charts its movement from production in Arabia to overland

trade to the Mediterranean coast, as well as its buyers in the Greek world.

His chapter shows the complexity of trade networks as well as the degree of

demand exerted by Greeks.

One important issue to address when considering interregional trade is

its overall volume. In his contribution to this volume Geoffrey Kron places

ancient Greek maritime trade in comparative perspective, and shows that it

was far from a minor aspect of the economy. Levels of imports per capita

place poleis such as Classical Athens in the same league as prosperous renais-

sance city-states such as Venice, and imports to Athens and other poleis went

well beyond the essentials of grain, timber and metals as well as minor lux-

ury goods for the elite. Taken together, these contributions bring a new level