The Economic Institutions of the Achaean Federal State

Emmanouil-Marios-Lazaros Economou ()

Chapter Chapter 7 in The Achaean Federation in Ancient Greece, 2020, pp 139-187 from Springer

Abstract: Abstract This chapter analyses the economic institutions of the Achaean federal state. The Achaean federal state was based on principles of economic freedom, market-type institutions and monetary union among the member city-states, with a genuine currency. Property rights were protected by law through local and federal courts. This was highly beneficial for the development of commercial activity among the member city-states. This chapter further analyses a series of state economic policy issues such as how public revenues and expenses were settled as well as issues of the state budget, taxation and public debt management. Furthermore, it analyses the provision of federal public goods. These include the provision of defence and the operational cost of the Achaean federal armed forces, other public goods such as the federal courts, a road network, as well as those public goods under the discretionary supervision of the Achaean federal authorities and, generally, the issue of public goods and their positive externalities on the economy. The analysis also focuses on the other social groups: women, orphans, metics (foreigners) and slaves, finishing with the issue of the value-added of the political and economic institutions of the Achaean federal state as a critical reason for the success of the Achaean federal experiment.

Date: 2020
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DOI: 10.1007/978-3-030-52697-9_7

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