Banks Enter the Scene

Luis Angeles ()
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Luis Angeles: University of Glasgow

Chapter Chapter 4 in Money Matters, 2022, pp 29-36 from Springer

Abstract: Abstract The first fully specialized banks in history appear in ancient Greece towards the end of the fifth century BC—only a few decades after the widespread adoption of coins as the foremost form of money in Greek society. Before this period, we can find several banking functions being provided at different times and places by large merchants and by certain institutions, with the earliest examples going all the way back to the middle of the 3rd millennium BC in ancient Mesopotamia. The Greek case is different in that no merchant or institution before that time had made banking services their sole or main line of business. The best evidence for this is that no society before classical Greece had a word for the profession of “banker”.

Keywords: Ancient banking; Deposit taking (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-030-95516-8_4

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DOI: 10.1007/978-3-030-95516-8_4

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