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The emergence and the evolution of property rights in ancient Greece

Published online by Cambridge University Press:  09 September 2016

EMMANOUIL M. L. ECONOMOU  and
NICHOLAS C. KYRIAZIS
EMMANOUIL M. L. ECONOMOU
Affiliation:
Department of Economics, University of Thessaly, Korai 43 Street, 38333 Volos, Greece
NICHOLAS C. KYRIAZIS*
Affiliation:
Department of Economics, University of Thessaly, Korai 43 Street, 38333 Volos, Greece
*
*Email: emmoikon@uth.gr
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Abstract

In this paper, we trace the emergence and the evolution of property rights from the Homeric Era (1100–750 BCE) to Classical Greece, based on ancient sources and modern interpretations. Indications of the emergence of property rights are to be found in the writings of eighth century Homer and Hesiod. Property rights evolved, together with changes in warfare and city-states during the Archaic and Classical periods, becoming more secure and specific, based on contracts. We analyse as case studies Themistocles’ Naval Law of 483/2 BCE and Nicophon's Monetary Law of 376/5. We also cover some other aspects of property rights, such as commercial transactions and the enforcement of contracts, official (written) law and legally binding procedures of law enforcement, banking services and the rights of women.

Type
Research Article
Information
Journal of Institutional Economics , Volume 13 , Issue 1: Douglass C. North Memorial Issue , March 2017 , pp. 53 - 77
Copyright
Copyright © Millennium Economics Ltd 2016 

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References

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Gabrielsen, V. (1994), Financing the Athenian Fleet: Public Taxation and Social Relations, Baltimore: John Hopkins University Press.Google Scholar
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Hodgson, G. M. and Knudsen, T. (2008), ‘The Emergence of Property Rights Enforcement in Early Trade: A Behavioral Model Without Reputational Effects’, Journal of Economic Behavior and Organization, 68 (1): 48–62.Google Scholar
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Hodgson, G. M. (2015a), Conceptualizing Capitalism: Institutions, Evolution, Future, Chicago: University of Chicago Press.CrossRefGoogle Scholar
Hodgson, G. M. (2015b). ‘Much of the ‘Economics of Property Rights’, Devalues Property and Legal Rights’, Journal of Institutional Economics, 11 (4): 683–709.CrossRefGoogle Scholar
Hodgson, G. M. (2015c). ‘What Humpty Dumpty Might Have Said About Property Rights – and the Need to Put Them Back Together Again: A Response to Critics’, Journal of Institutional Economics, 11 (4): 731–747.CrossRefGoogle Scholar
Johnstone, S. (2011), A History of Τrust in Ancient Greece, Chicago: The University of Chicago Press.Google Scholar
Kaiser, B. A. (2007), ‘The Athenian Trierarchy: Mechanism Design for the Private Provision of Public Goods’, The Journal of Economic History, 67 (2): 445–475.Google Scholar
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Kyriazis, N. (2009), ‘Financing the Athenian State: Public Choice in the Age of Demosthenes’, European Journal of Law and Economics, 27 (2): 109–127.Google Scholar
Kyriazis, N. (2012). Why Ancient Greece? Athens: Psychogios Publications.Google Scholar
Kyriazis, N. and Paparrigopoulos, X. (2014), ‘War and Democracy in Ancient Greece’, European Journal of Law and Economics, 38 (1): 163–183.Google Scholar
Kyriazis, N. and Economou, E. M. L. (2015). Democracy and Economy. An Analytical History of Democracy From its Birth to Today, Athens: Enalios (in Greek).Google Scholar
Kyrtatas, D. and Rangos, S. I. (2010), The Greek Antiquity, Thessaloniki: Institute of New Hellenic Studies.Google Scholar
Lanni, A. M. (2006), Law and Justice in the Courts of Classical Athens, Cambridge: Cambridge University Press.Google Scholar
Leshem, D. (2016), ‘What Did the Ancient Greeks Mean by Oikonomia?’, Journal of Economic Perspectives, 30 (1): 225–231.CrossRefGoogle Scholar
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