THE ECONOMY IN ANCIENT GREECE

 

After analysing sediment cores discovered in six locations in southern Greece, an international team of researchers identified trends in cereal, olive and wine products indicating major changes in agricultural products between the 1000 century BC and 600 AD.

                              Pericles talking to the Athenians about  Democracy                                            

These changes show that ancient Greece had a relatively sophisticated market economy as far back as 2.600 years, even before Athens became a democracy, during the rule of the great Athenian politician Pericles.

 

Instead of planting what they needed, ancient Greek farmers, of that period, planted what was necessary for international trade.  This indicates that small markets for a consumer item would join with others to become one large market like the Common Market so many centuries ago.

 

Researchers have combined different facts of scientific research to provide evidence for the market economy in ancient Greece, even in areas around the Black Sea where Greeks had settled.  Greeks exported olive oil and wine to their compatriots living around the Black Sea and imported grains and cereals.

 

                                A Shipwreck Carrying Grains Olive Oil and Wine

Researchers by analysing data from shipwrecks in both the ancient Greek and Roman eras, discovered evidence of cereal, olive and vine cultivations.  Both sources show an economic boom during the 1^st century AD, a decline the  4^th and 5^th and a smaller boom in the 6^th century AD.

 

We are very grateful to this amazing international team of researchers for discovering so many data about the economy of ancient and medieval Greece.