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The Economy In Greece

By Edited Nov 13, 2013 0 0

Ancient Greece was an amazing place. The Greeks prospered for years.  Their society is an example of  ingenuity and business acument. Living in ancient Greece would have been a creative and lively prospect.

    The Greek economy contributed to the success of Greece as a civilization. Unlike many civilizations at the time, the Greeks regulated many aspects of  their economy and were able to prosper in almost every component of their economy. For instance, the Greeks placed tariffs on certain imported goods like wine and olive oil to protect the domestic economy. Decisions like these helped the Greeks grow. Like modern day Germany, the Greeks exported many products that were made with high quality. Two key factors helped the Greeks dominate the manufacturing world. Frist,  cheap labor and second, cheap supplies. The Greeks were able to get inexpensive  labor in the form of slaves and by trading they were able to keep the cost of  supplies down. These two elements  helped the Greeks make products inexpensively. With this distinct advantage the Greeks sold more and increased their export market.

     Products like pottery and sculptures were exported all around the Aegean sea and the Greeks spread their dominance and wealth. Although the Greeks profited greatly from manufacturing items, manufacturing only accounted for a small portion of the Greek economy. Most of the jobs in Greece were in agriculture.  A barrel of wine in Greece could pass through over 30 hands before it reached the buyer. Here's an example. the grower employs 30 people; they grow grapes; they turn the grapes into wine ; they sell the wine by the barrel. A trader buys the barrels of wine and brings it to a port of, let's say, Athens where he sells it to a merchant who transports it to Delos. In Delos, the Greek merchant sells the wine barrels to a restaurant owner who sells it to his customers.This one barrel of wine passed through many hands before it was consumed. This one example documents how agriculture provided thousands of jobs in Greece.

      Agriculture,though,  had a fatal flaw.  Just because it provided jobs did not mean those jobs were steady. In Greece, the economy was not balanced. While most of the economy was in agriculture,  other industries like textiles,manufacturing,finance and services also  accounted for apercentage of the economy. This meant that during famine,drought or disaster the whole economy suffered.  An example of this happening was during the Pellopenisian war. The invading Spartans burned   all the olive groves and farm land in their path. This caused widespread shortages of essential produce throughout Greece. The whole economy suffered. The Greeks had other industries like  pottery  and mining but they were small in comparison but  accounted for a lot of the money  brought into Greece during this hardship.

      In conclusion,  archealogist  have found that the Greek economy did prosper. The Greek economy's main industry was agriculture. As to what percentage of the Greek economy was made up of agriculture we can only guess. Through my research I have found that the Greeks made an amazing civilization, one that had a strong economy and a strong government. The combination of those two things meant Greece could prosper even during hard times.


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