What Was Money in Ancient Greece?

David M. Schaps

Research output: Chapter in Book/Report/Conference proceedingChapterpeer-review

4 Scopus citations


This chapter discusses the significance of money in ancient Greece. It argues that economies managed by using reciprocity and redistribution, specialpurpose money, credit, and most importantly, economies managed because of the way they were embedded in the social system in ancient Greece. However these were not the dominant factors organizing the economy. Inflation and deflation, the integration of markets, the creation of money through credit, and the influence of business-produced wealth on the state also could be seen in Greece, but they were on a scale much more modest than that known to us.

Original languageEnglish
Title of host publicationThe Monetary Systems of the Greeks and Romans
PublisherOxford University Press
ISBN (Electronic)9780191716348
ISBN (Print)9780199233359
StatePublished - 1 May 2008

Bibliographical note

Publisher Copyright:
© Oxford University Press, 2013. All Rights Reserved.


  • Credit
  • Economy
  • Greeks
  • Inflation and deflation
  • Money
  • Reciprocity
  • Redistribution


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