IDEAS home Printed from https://ideas.repec.org/h/spr/fimchp/978-3-319-06109-2_3.html
   My bibliography  Save this book chapter

War and Peace, Imitation and Innovation, Backwardness and Development: The Beginnings of Coinage in Ancient Greece and Lydia

In: Explaining Monetary and Financial Innovation

Author

Listed:
  • David M. Schaps

    (Bar-Ilan University)

Abstract

The economic revolution produced by the invention of coinage was both conducive to and facilitated by a number of smaller, incremental innovations, some in the coin itself (the use of silver rather than electrum, the use of bronze for small amounts, fiduciary coinage), some in the ways of doing business (retail commerce, salaried labor, new credit systems such as the small lender, the bank, bottomry loans and transfer orders), some in the management of money (public finance). Paradoxically but not uncharacteristically, it was the more primitive Greek society that was more open to innovation, and that used the new coins in ways undreamed of in the more developed Near Eastern economies. War may have been what engendered the original innovation; peace was what nourished it, so that it grew and prospered.

Suggested Citation

  • David M. Schaps, 2014. "War and Peace, Imitation and Innovation, Backwardness and Development: The Beginnings of Coinage in Ancient Greece and Lydia," Financial and Monetary Policy Studies, in: Peter Bernholz & Roland Vaubel (ed.), Explaining Monetary and Financial Innovation, edition 127, pages 31-51, Springer.
    • Handle: RePEc:spr:fimchp:978-3-319-06109-2_3
    DOI: 10.1007/978-3-319-06109-2_3
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Jacques Melitz, 2017. "A model of the beginnings of coinage in antiquity," European Review of Economic History, European Historical Economics Society, vol. 21(1), pages 83-103.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:spr:fimchp:978-3-319-06109-2_3. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.