finance, Greek and Hellenistic
finance, Greek and HellenisticThe collective deployment of resources by the community inevitably has socio-political implications (who pays? who benefits?). But public finance in Greek states rarely had economic aims beyond the broad balancing of incomings and outgoings: demand-management through running a budget deficit or surplus was unknown. Oikonomia (‘economics’) as applied to state finance preserved autarkic attitudes appropriate to its original meaning of ‘household management’ (Xenophon Memorabilia 3. 4). Recurring expenditure (primarily on administration, cult, ambassadors, defence, maintenance of fortifications, gymnasia, and public buildings) would be met from a variety of revenues (rents and royalties from state property, including mines and quarries, court fees and fines, taxes on non-citizens, sales taxes, excise duties and customs dues). Collection of taxes was regularly farmed out by auction to private individuals...
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