Classics Wealthy Hellas

When it is compared to other premodern societies, ihe Greek world, in 800-300 BC, was prosperous. The Greek economy grew (both in the aggregate and per capita) at a hight rate by premodern standards (although growth was feeble by modern standards). By the fourth century BC Hellas was comparatively densely populated and highly urbanized. Incomes of working people were high (at least in Athens) and wealth and income were distributed relatively equitably. Comparatively strong Greek economic performance is the context for the development archaic/classical Greek culture. Exceptional Greek economic performance may be explained in part by “rule egalitariansim” (leading to greater investment in human capital and lower transaction costs) and by continuous institutional innovation (the result of inter-state competition and learning). © Josiah Ober. [email protected]