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Book details
Author : Edward Cohen
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Pages : 312 pages
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Publisher : Princeton University Press 1997-01-06
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Language : English
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ISBN-10 : 0691015929
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ISBN-13 : 9780691015927
Book Synopsis
In this ground-breaking analysis of the world s first private banks, Edward Cohen
convincingly demonstrates the existence and functioning of a market economy in
ancient Athens while revising our understanding of the society itself. Challenging
the "primitivistic" view, in which bankers are merely pawnbrokers and moneychangers, Cohen reveals that fourth-century Athenian bankers pursued
sophisticated transactions. These dealings--although technologically far removed
from modern procedures--were in financial essence identical with the lending and
deposit-taking that separate true "banks" from other businesses. He further
explores how the Athenian banks facilitated tax and creditor avoidance among the
wealthy, and how women and slaves played important roles in these family
businesses--thereby gaining legal rights entirely unexpected in a society
supposedly dominated by an elite of male citizens. Special emphasis is placed on
the reflection of Athenian cognitive patterns in financial practices. Cohen shows
how transactions were affected by the complementary opposites embedded in the
very structure of Athenian language and thought. In turn, his analysis offers great
insight into daily Athenian reality and cultural organization.