The Invention of Coinage and the Monetization of Ancient Greece

Coinage appeared at a moment when it fulfilled an essential need in Greek society and brought with it rationalization and social leveling in some respects, while simultaneously producing new illusions, paradoxes, and new elites. In a book that will encourage scholarly discussion for some time, David M. Schaps addresses a range of important coinage topics, among them money, exchange, and economic organization in the Near East and in Greece before the introduction of coinage; the invention of coinage and the reasons for its adoption; and the developing use of money to make more money. David M. Schaps is Professor of Classics at Bar-Ilan University in Israel. Reveals how the concept of money did not materialize until the invention of Greek coinage | The invention of coinage was a conceptual revolution, not a technological one. Only with the invention of Greek coinage does the concept "money" clearly materialize in history. Coinage appeared at a moment when it fulfilled an essential need in Greek society, bringing with it rationalization and social leveling in some respects, while simultaneously producing new illusions, paradoxes, and elites. In an argument of interest to scholars of ancient history and archaeology as well as to modern economists, David M. Schaps addresses a range of issues pertaining to major shifts in ancient economies, including money, exchange, and economic organization in the Near East and Greece before the introduction of coinage; the invention of coinage and the reasons for its adoption; and the development of using money to generate greater wealth. "The invention of coinage was a conceptual revolution, not a technological one. Only with the invention of Greek coinage does the concept "money" clearly materialize in history. Coinage appeared at a moment when it fulfilled an essential need in Greek society, bringing with it rationalization and social leveling in some respects, while simultaneously producing new illusions, paradoxes, and elites. In an argument of interest to scholars of ancient history and archaeology as well as to modern economists, David M. Schaps addresses a range of issues pertaining to major shifts in ancient economies, including money, exchange, and economic organization in the Near East and Greece before the introduction of coinage; the invention of coinage and the reasons for its adoption; and the development of using money to generate greater wealth."-- Publisher's website Coinage appeared at a moment when it fulfilled an essential need in Greek society and brought with it rationalization and social leveling in some respects, while simultaneously producing new illusions, paradoxes, and new elites. In a book that will encourage scholarly discussion for some time, David M. Schaps addresses a range of important coinage topics, among them money, exchange, and economic organization in the Near East and in Greece before the introduction of coinage; the invention of coinage and the reasons for its adoption; and the developing use of money to make more money. David M. Schaps is Professor of Classics at Bar-Ilan University in Israel The revolutionary invention -- Questions and controversies -- Money before coinage: the ancient Near East -- Greece before money: the Bronze Age -- Homer: tripods and oxen -- The archaic age: cauldrons, spits and silver -- The first coins -- Money and the market -- The monetization of politics -- War by other means -- The monetization of labor -- Money on the farm -- Using money to make money -- Monetization: limits and illusions.