A History of Greek Economic ThoughtTrever, Albert Augustus
History
A History of Greek Economic Thought
Trever, Albert Augustus
Economics -- Greece -- History; Thesis (Ph. D.)
Naturally, the philosopher shows no concern for a tax on imports as a
means of building up the industry and commerce of his state, since he is
especially desirous of limiting both. However, he is not blind to the
advantages of export and import trade for a nation,[732] but would
regulate them with an ethical, rather than an economic purpose.[733] His
doctrine of exchange as a form of production has been discussed
above,[734] and will be touched upon further in the following pages. His
general criticism of what he terms “false finance” or “chrematistik”
(χρηματιστική) remains for more extended treatment.
We have seen that he recognizes the necessity of a limited form of
exchange, free from the purpose of gain, and considers such trading to
be natural and in accord with that interdependence which nature
demands.[735] He calls it the very bond of the social organization,[736]
and even considers international commerce to be necessary for the
prosperity of a state.[737] We have also seen that he goes so far as to
advise the rich in a democracy to give the poor a start in
business,[738] but that exchange, in its prevalent form, is to him a
method of cheatery, in which one gains what the other loses.[739]
On the basis of this prejudice, he builds his argument for domestic
economy (οἰκονομική) as opposed to false finance.[740] We will therefore
consider his entire theory of this relation at this point, for the term
“chrematistik,” though more inclusive than exchange (μεταβλητική), has
trade in either goods or money (καπηλική) as its predominating element,
and the two terms are often used by him as synonyms. He employs the word
χρηματιστική in several significations—usually of unnatural finance, or
the art of money-making by exchange of goods or money; sometimes as
synonymous with κτητική, the general term for the entire business of
acquisition, including both natural and unnatural finance;[741] again,
of the natural finance, which is a part of domestic economy. His
confusion results partly from his futile attempt to separate landed
property from general industry and commerce.
Public-domain text, read in full here on John Shaqi.
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