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.

How were the Greeks of the sixth century BC able to invent philosophy and tragedy? In this book Richard Seaford argues that a large part of the answer can be found in another momentous development, the invention and rapid spread of coinage, which produced the first ever thoroughly monetised society. By transforming social relations monetisation contributed to the ideas of the universe as an impersonal system, fundamental to Presocratic philosophy, and of the individual alienated from his own kin and from the gods, as found in tragedy.

The papers in this volume re-assess the role of coined money in the ancient Greek world. Using new approaches, the book makes the results of numismatic as well as historical research accessible to students and scholars of ancient history. The chapters provide a wide-ranging account of thepolitical, social, and economic contexts within which coined money was used. In Part One the book focuses on the theme of monetization and the politics of coinage, while Part Two provides a series of case studies relating to the production and use of coined money in different areas of theGreek-speaking world, including Asia Minor, Egypt, and Rhodes as well as Greece itself. The individual chapters cover a broad chronological range from Archaic Greece to Roman Egypt. The book as a whole offers fresh insights into an important aspect of the ancient Greek economy.

A comprehensive analysis of the impact of money on the economy, society and culture of the Greek and Roman worlds.