A History of Greek Economic ThoughtTrever, Albert Augustus
History
A History of Greek Economic Thought
Trever, Albert Augustus
Economics -- Greece -- History; Thesis (Ph. D.)
His main contention is that there is a vital distinction between
domestic economy, whether of householder (οἰκονόμος) or statesman, and
the art of acquisition or finance, as usually pursued. The primary
function of the art of finance is to provide, while that of domestic
economy is to use what is provided.[742] There are, however, many
methods of acquisition (κτητική; χρηματιστική), some of which truly
belong to the sphere of domestic economy.[743] The provision of all that
is furnished by nature herself, as necessary to human existence, then,
if not already at hand (ὑπάρχειν), belongs properly to domestic
economy.[744] It both uses and provides genuine wealth, such as is
limited in amount (οὐκ ἄπειρος) yet sufficient for independence
(αὐτάρκεια) and the good life.[745] But the use of such wealth is its
chief business.[746] The other kind of acquisition, which is unlimited,
or chrematistik, is contrary to nature, and is not in the province of
domestic economy.[747] This unnatural finance, since it deals chiefly in
the exchange of money and other commodities, may be termed retail trade
(καπηλική).[748] Though itself false, it is a logical outgrowth (κατὰ
λόγον) of the true form of exchange that is limited to actual needs[749]
as a result of the invention of money.[750] But the real reason for its
pursuit is to satisfy an evil and unlimited desire for material
things.[751] It produces money merely through the exchange of money
(δι1α χρημάτων μεταβολῆς),[##] and its beginning and end is unlimited
currency.[752]
This false form of acquisition is often confused with necessary
exchange, because both deal with money.[753] Their aims, however, are
quite diverse. The latter treats the accumulation of money (αὔξησις) as
a means, while the former treats it as the supreme end of life.[754] In
fine, then, Aristotle teaches that necessary chrematistik has to do with
the supply and use of life’s necessities, is natural (κατὰ φύσιν or
οἰκειοτάτη) and limited,[755] its prime function being the proper
disposal of products.[756] It is an honorable pursuit,[757] dependent
chiefly upon fruits and animals,[758] and involves a practical knowledge
of stock (κτηνή), farming, bee-culture, trees, fish, and fowl.[759] The
false finance, on the other hand, is unnatural, dishonorable, and
enriches at the expense of another.[760] Its chief business is commerce
(ἐμπορία), including sea-trade (ναυκληρία), inland trade (φορτηγία), and
shop-trade, (παράστασις).[761] It also comprises usury (τοκισμός) and
hired labor, both skilled and unskilled (μισθαρνία ἡ μὲν τῶν βαναύσων
τέχνων ἡ δὲ ἀτεχνῶν).[762]
Public-domain text, read in full here on John Shaqi.
Reviews
Reviews
No reviews yet
Be the first to share your thoughts on this work.
Elsewhere in the archive
Join the Discussion
Join the discussion
Sign in to leave a comment or review.
Sign InorCreate an account