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1 results

  • 15 - Markets

  • from Part III - Structures and Processes
  • Edited by Sitta von Reden, Albert-Ludwigs-Universität Freiburg, Germany
  • Book:
    The Cambridge Companion to the Ancient Greek Economy
    Published online:
    21 July 2022
    Print publication:
    04 August 2022, pp 221-236

  • Summary

    The market in ancient Greece should be understood as a specific institutional construct, that of the city-state, which allowed its citizens to exercise private property rights guaranteed by law. By extension, free foreigners were also acknowledged these rights, which however extended to the private ownership of human beings (slavery). The city-state also created the conditions for an unusually high division of labour. Each city was a market space of its own, with its own rules and logic, which could include the control over sales margins and even sometimes the establishment of maximum prices for some perishable fresh goods. The network of hundreds of Greek city-states also created the conditions for the development of an original form of international market.