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The Making of the Ancient Greek EconomyInstitutions, Markets, and Growth in the City-States$
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Alain Bresson

Print publication date: 2018

Print ISBN-13: 9780691183411

Published to Princeton Scholarship Online: January 2019

DOI: 10.23943/princeton/9780691183411.001.0001

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Money and Credit

Money and Credit

(p.260) X Money and Credit
The Making of the Ancient Greek Economy

Alain Bresson

, Steven Rendall
Princeton University Press

This chapter examines the relation between credit and money, as well as the possibility that credit might have an autonomous role as a monetary instrument, in ancient Greece. It first considers the use of precious metals, including gold and silver, as monetary instruments in trade before discussing the rise of coinage in the Greek city-states, the connection between coined money and market exchange, minting and the question of how minted money was used, and the monetization of everyday trade in the agora. The chapter goes on to explore the impact of coined money on economic growth and how credit operated in the Greek monetary system. In particular, it describes forms of credit in ancient Greece, focusing on maritime loans.

Keywords:   credit, money, precious metals, monetary instruments, trade, coinage, minting, agora, economic growth, maritime loans

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