Money in Ptolemaic Egypt: From the Macedonian Conquest to the End of the Third Century BC

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Cambridge University Press, Dec 6, 2007 - Business & Economics - 354 pages
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This book explores the impact of Alexander the Great's introduction of coined money on the economy and society of Egypt and its political implications for the formation of the Ptolemaic state. It argues that the introduction of coinage happened slowly, spreading gradually from Alexandria into the chora. Under Ptolemy II, however, Egypt was aggressively monetised. Using both numismatic and papyrological evidence, the workings of a rural monetary economy are reconstructed where coinage was in high demand, but in short supply. It is argued that by the middle of the third century BC Egypt was much more thoroughly monetised than is usually assumed, but that the degree of monetisation was sustained only by an extensive credit economy as well as ad hoc commutation of monetary payments into kind. Contextualising the complexities of credit and banking in rural Egypt, the book offers a fresh picture of their function in the ancient economy.
  

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Contents

Monetising the countryside
58
Taxes
84
Bronze and silver
111
Rents
118
Wages
130
Formal loans
153
Table 7 Loans against pledge made by Zenons agents between
164
Table 8 cont
178
Table 8 cont
180
Extending the credit economy
181
Table 10 Loans against future produce
193
Table n Credit sale
199
Table 12 Arrha
201
Leases and labour contracts
205
Credit in a social context
227
Banks and the money supply
257

BGUXI965
179
Banking and business
280

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About the author (2007)

Sitta von Reden is Senior Lecturer in Ancient History and Classics at the University of Bristol, UK.

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